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

by · The Cerbat Gem

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Friday,Finviz reports.

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

Check Out Our Latest Report on Rogers Communications

Rogers Communications Stock Performance

Shares of NYSE RCI traded down $0.05 during midday trading on Friday, reaching $26.02. 1,038,384 shares of the company traded hands, compared to its average volume of 979,742. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.43 and a beta of 0.67. The stock has a 50-day moving average price of $27.78 and a 200 day moving average price of $32.53. Rogers Communications has a 52 week low of $24.76 and a 52 week high of $41.84. 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 (NYSE:RCI – Get Free Report) (TSE:RCI.B) last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Sell-side analysts anticipate that Rogers Communications will post 3.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in shares of Rogers Communications by 95.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 744 shares during the period. Jones Financial Companies Lllp boosted its position in Rogers Communications by 141.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares during the last quarter. Versant Capital Management Inc purchased a new position in Rogers Communications in the first quarter valued at about $79,000. Headlands Technologies LLC increased its position in Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock worth $163,000 after purchasing an additional 3,888 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Rogers Communications by 19.1% during the 4th quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after purchasing an additional 930 shares in the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Company Profile

(Get Free Report)

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.

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