Rogers Communication (NYSE:RCI) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on RCI. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday, September 14th. Raymond James Financial started coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Finally, Scotiabank restated an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Rogers Communication Stock Performance

NYSE RCI opened at $30.84 on Friday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 3.73, a price-to-earnings-growth ratio of 3.86 and a beta of 0.65. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average price of $35.02 and a 200-day moving average price of $35.56. Rogers Communication has a twelve month low of $30.15 and a twelve month high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Rogers Communication will post 3.26 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 8th were issued a C$0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.5%. Rogers Communication’s dividend payout ratio (DPR) is 17.39%.

Institutional Investors Weigh In On Rogers Communication

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in Rogers Communication by 8.2% during the third quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider’s stock valued at $195,000 after purchasing an additional 480 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of Rogers Communication by 49.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 16,693 shares of the Wireless communications provider’s stock worth $543,000 after buying an additional 5,500 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Rogers Communication by 2.5% in the 2nd quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock worth $704,000 after buying an additional 524 shares during the last quarter. Nykredit A S bought a new stake in shares of Rogers Communication in the 2nd quarter worth about $1,847,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Rogers Communication during the 2nd quarter valued at about $1,395,000. Institutional investors own 45.49% of the company’s stock.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.