Rogers Communications (NYSE:RCI) Raised to “Buy” at TD Securities

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was upgraded by research analysts at TD Securities to a “buy” rating in a report issued on Monday, The Fly reports.

RCI has been the topic of a number of other reports. JPMorgan Chase & Co. downgraded Rogers Communications from a “neutral” rating to an “underweight” rating in a research note on Monday, July 8th. Echelon Wealth Partners raised Rogers Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. ValuEngine downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Zacks Investment Research downgraded Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, September 24th. Finally, BMO Capital Markets dropped their price objective on Rogers Communications from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Rogers Communications presently has a consensus rating of “Hold” and an average target price of $59.18.

RCI traded down $4.03 during midday trading on Monday, hitting $46.70. 2,705,285 shares of the company were exchanged, compared to its average volume of 420,542. The firm has a market capitalization of $25.94 billion, a P/E ratio of 13.94, a P/E/G ratio of 3.37 and a beta of 0.52. Rogers Communications has a 1-year low of $46.59 and a 1-year high of $55.93. The firm’s 50 day moving average price is $49.50 and its 200-day moving average price is $51.52. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.94.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Tuesday, July 23rd. The Wireless communications provider reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.87 billion. Rogers Communications had a return on equity of 26.66% and a net margin of 13.79%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, sell-side analysts predict that Rogers Communications will post 3.37 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in RCI. Beutel Goodman & Co Ltd. raised its stake in Rogers Communications by 99.8% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 40,532,676 shares of the Wireless communications provider’s stock worth $2,174,759,000 after buying an additional 20,241,073 shares during the period. TD Asset Management Inc. raised its stake in Rogers Communications by 2.7% during the 2nd quarter. TD Asset Management Inc. now owns 12,979,607 shares of the Wireless communications provider’s stock worth $696,285,000 after buying an additional 339,640 shares during the period. Vanguard Group Inc. raised its stake in Rogers Communications by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,918,695 shares of the Wireless communications provider’s stock worth $530,848,000 after buying an additional 258,830 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Rogers Communications during the 2nd quarter worth approximately $265,009,000. Finally, USS Investment Management Ltd raised its stake in Rogers Communications by 70.8% during the 2nd quarter. USS Investment Management Ltd now owns 4,799,219 shares of the Wireless communications provider’s stock worth $256,219,000 after buying an additional 1,989,592 shares during the period. 43.25% of the stock is currently owned by institutional investors.

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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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