Rogers Communications (NYSE:RCI) Rating Lowered to “Sector Perform” at Scotiabank

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

RCI has been the subject of a number of other research reports. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Price Performance

Shares of RCI opened at $26.71 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock’s 50 day moving average is $27.94 and its two-hundred day moving average is $32.74. Rogers Communications has a twelve month low of $26.55 and a twelve month high of $41.84. The firm has a market capitalization of $14.32 billion, a PE ratio of 11.51, a P/E/G ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data 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%. Research analysts anticipate that Rogers Communications will post 3.57 earnings per share for the current year.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors and hedge funds have recently modified their holdings of the company. FIL Ltd grew its stake in Rogers Communications by 7.2% in the 4th quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider’s stock worth $1,028,336,000 after acquiring an additional 2,244,240 shares during the period. Bank of Nova Scotia lifted its stake 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 period. Arrowstreet Capital Limited Partnership boosted its holdings 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 during the last quarter. National Bank of Canada FI increased 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 purchasing an additional 977,924 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its position in Rogers Communications by 23.5% during the fourth 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 period. Hedge funds and other institutional investors own 45.49% of the company’s stock.

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.