Bank of America Downgrades Rogers Communications (NYSE:RCI) to Neutral

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat reports.

A number of other equities research analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities lifted their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Trading Down 0.4 %

RCI opened at $28.43 on Tuesday. The business’s 50 day moving average price is $33.30 and its 200 day moving average price is $36.88. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The stock has a market capitalization of $15.19 billion, a PE ratio of 13.87, a P/E/G ratio of 1.06 and a beta of 0.69. Rogers Communications has a one year low of $27.63 and a one year high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, equities research analysts expect that Rogers Communications will post 3.56 EPS for the current year.

Hedge Funds Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. Acadian Asset Management LLC purchased a new stake in shares of Rogers Communications during the second quarter worth $55,000. American Century Companies Inc. grew its stake in Rogers Communications by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 6,099 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Rogers Communications by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,521,446 shares of the Wireless communications provider’s stock worth $56,071,000 after purchasing an additional 21,060 shares during the period. Dimensional Fund Advisors LP increased its holdings in Rogers Communications by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock worth $22,341,000 after purchasing an additional 33,930 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in Rogers Communications in the 2nd quarter valued at about $867,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.