Rogers Communications (NYSE:RCI) Downgraded to “Sector Perform” Rating by Scotiabank

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other equities analysts have also recently commented on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday, January 21st. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at $26.71 on Tuesday. The stock has a market cap of $14.32 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.43 and a beta of 0.67. Rogers Communications has a one year low of $26.55 and a one year high of $41.84. The stock’s fifty day moving average is $27.94 and its 200 day moving average is $32.74. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating 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 year.

Institutional Investors Weigh In On Rogers Communications

Several large investors have recently added to or reduced their stakes in RCI. FIL Ltd boosted its holdings in Rogers Communications by 7.2% in the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock valued at $1,028,336,000 after purchasing an additional 2,244,240 shares during the period. Bank of Nova Scotia lifted its position in shares of Rogers Communications by 20.6% during the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider’s stock worth $237,784,000 after purchasing an additional 1,320,200 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Rogers Communications by 123.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider’s stock worth $206,565,000 after purchasing an additional 3,717,487 shares in the last quarter. National Bank of Canada FI raised its stake in Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock valued at $250,886,000 after buying an additional 977,924 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its holdings in Rogers Communications by 23.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider’s stock worth $160,094,000 after buying an additional 992,780 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

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.