Rogers Communications (NYSE:RCI) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a hold rating to a buy rating in a research report report published on Friday morning, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. Scotiabank lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Rogers Communications has an average rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Down 0.9 %

Rogers Communications stock opened at $25.85 on Friday. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.43 and a beta of 0.67. The company’s 50 day simple moving average is $27.72 and its 200 day simple moving average is $32.43. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications has a fifty-two week low of $24.76 and a fifty-two week high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts anticipate that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s dividend payout ratio is currently 59.48%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its holdings in Rogers Communications by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock worth $725,000 after purchasing an additional 379 shares during the period. Verition Fund Management LLC lifted its position in shares of Rogers Communications by 7.9% in the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after buying an additional 551 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Rogers Communications by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock worth $436,000 after acquiring an additional 571 shares during the period. Waldron Private Wealth LLC increased its holdings in shares of Rogers Communications by 3.1% during the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock worth $682,000 after acquiring an additional 660 shares during the last quarter. Finally, State Street Corp lifted its holdings in Rogers Communications by 0.5% during the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock valued at $5,550,000 after purchasing an additional 661 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Company Profile

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.