Rogers Communications (RCI) Rating Lowered to Hold at Canaccord Genuity

Canaccord Genuity cut shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a buy rating to a hold rating in a research report sent to investors on Monday, The Fly reports.

Several other research firms have also recently weighed in on RCI. Edward Jones cut Rogers Communications from a buy rating to a hold rating and set a $52.67 price target for the company. in a report on Thursday, November 29th. Zacks Investment Research upgraded Rogers Communications from a hold rating to a buy rating and set a $59.00 price target for the company in a report on Wednesday, September 19th. Desjardins cut Rogers Communications from a buy rating to a hold rating in a report on Monday, October 22nd. Finally, National Bank Financial upgraded Rogers Communications from a sector perform market weight rating to an outperform rating in a report on Thursday, January 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $54.89.

Shares of RCI opened at $54.33 on Monday. The company has a market cap of $27.70 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.68. Rogers Communications has a 12-month low of $43.11 and a 12-month high of $54.83. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 0.72.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Friday, October 19th. The Wireless communications provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Rogers Communications had a return on equity of 29.37% and a net margin of 13.34%. On average, equities analysts expect that Rogers Communications will post 3.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 11th were issued a $0.3695 dividend. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.72%. Rogers Communications’s payout ratio is 53.14%.

Institutional investors have recently made changes to their positions in the company. Glassman Wealth Services purchased a new position in shares of Rogers Communications in the 3rd quarter worth approximately $123,000. Quantbot Technologies LP purchased a new position in shares of Rogers Communications in the 3rd quarter worth approximately $134,000. First Hawaiian Bank boosted its holdings in shares of Rogers Communications by 1,276.0% in the 4th quarter. First Hawaiian Bank now owns 2,697 shares of the Wireless communications provider’s stock worth $138,000 after purchasing an additional 2,501 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Rogers Communications by 231.5% in the 3rd quarter. Captrust Financial Advisors now owns 3,328 shares of the Wireless communications provider’s stock worth $172,000 after purchasing an additional 2,324 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Rogers Communications in the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 44.68% of the company’s stock.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. The company's Wireless segment offers wireless telecommunications services to consumers and businesses under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications. This segment distributes its products through independent dealer networks, company-owned retail stores, retail chains and convenience stores, e-commerce sites, call centers and outbound telemarketing, and other distribution channels.

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