Rogers Communications (NYSE:RCI) Upgraded by Canaccord Genuity Group to Buy Rating

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, MarketBeat Ratings reports.

Several other research firms have also issued reports on RCI. Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday, December 16th. They issued an “underweight” rating for the company. Bank of America downgraded 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 report on Tuesday. Finally, Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Rogers Communications has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Price Performance

Shares of RCI stock opened at $25.85 on Friday. Rogers Communications has a 12 month low of $24.76 and a 12 month high of $41.84. The company has a market capitalization of $13.86 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.43 and a beta of 0.67. The stock has a 50 day moving average of $27.72 and a two-hundred day moving average of $32.43. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its 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%. As a group, equities analysts expect that Rogers Communications will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

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

Institutional Inflows and Outflows

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

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.