Rogers Communications Inc. (NYSE:RCI) Given Average Recommendation of “Hold” by Brokerages

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $61.75.

A number of brokerages have issued reports on RCI. Morgan Stanley began coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday. Finally, Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th.

Institutional Investors Weigh In On Rogers Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cromwell Holdings LLC purchased a new position in shares of Rogers Communications during the third quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its position in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Rogers Communications in the second quarter valued at about $55,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Rogers Communications during the third quarter worth about $203,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

Rogers Communications Stock Down 0.6 %

Shares of Rogers Communications stock opened at $28.10 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications has a 52-week low of $27.63 and a 52-week high of $48.19. The company has a market capitalization of $15.02 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.05 and a beta of 0.69. The company has a 50 day moving average of $32.50 and a 200 day moving average of $36.59.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. As a group, research analysts forecast that Rogers Communications will post 3.47 EPS for the current fiscal year.

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.