Rogers Communication (NYSE:RCI) Cut to “Hold” at TD Securities

TD Securities cut shares of Rogers Communication (NYSE:RCI) (TSE:RCI.B) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat reports.

RCI has been the topic of several other reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Rogers Communication in a report on Wednesday, December 10th. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research note on Friday, January 30th. Barclays reissued a “positive” rating and set a $37.00 price target on shares of Rogers Communication in a research report on Tuesday, January 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Rogers Communication in a research note on Friday, December 26th. Finally, Desjardins cut Rogers Communication from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

Rogers Communication Trading Up 0.1%

Shares of Rogers Communication stock opened at $35.06 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.57 and a current ratio of 0.61. The firm has a 50-day moving average of $38.43 and a 200-day moving average of $37.56. Rogers Communication has a 52-week low of $23.18 and a 52-week high of $41.14. The stock has a market cap of $18.94 billion, a PE ratio of 3.79, a PEG ratio of 4.65 and a beta of 0.72.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, January 29th. The Wireless communications provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. Rogers Communication had a net margin of 32.29% and a return on equity of 14.22%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the firm earned $1.46 earnings per share. Rogers Communication’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Rogers Communication will post 3.57 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, March 10th. Rogers Communication’s dividend payout ratio is 15.89%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in Rogers Communication during the fourth quarter worth $26,000. Farther Finance Advisors LLC increased its stake in shares of Rogers Communication by 107.4% in the 4th quarter. Farther Finance Advisors LLC now owns 786 shares of the Wireless communications provider’s stock valued at $30,000 after purchasing an additional 407 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Rogers Communication by 143.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,661 shares of the Wireless communications provider’s stock worth $49,000 after buying an additional 978 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Rogers Communication during the 3rd quarter worth $58,000. Finally, Advisory Services Network LLC bought a new stake in shares of Rogers Communication during the 3rd quarter worth $63,000. 45.49% of the stock is owned by institutional investors.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.