Rogers Communications’ (RCI) “Equal Weight” Rating Reiterated at Barclays

Barclays restated their equal weight rating on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a research report released on Tuesday morning, MarketBeat reports.

A number of other research analysts also recently commented on the company. Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America downgraded 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, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Performance

RCI stock opened at $28.28 on Tuesday. The firm has a 50 day simple moving average of $32.35 and a 200 day simple moving average of $36.53. Rogers Communications has a 52 week low of $27.63 and a 52 week high of $48.19. The stock has a market cap of $15.11 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.05 and a beta of 0.69. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts anticipate that Rogers Communications will post 3.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rogers Communications

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rogers Communications by 106.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after acquiring an additional 68,971 shares during the period. MQS Management LLC acquired a new stake in shares of Rogers Communications in the third quarter valued at about $726,000. Avanza Fonder AB bought a new position in shares of Rogers Communications in the fourth quarter worth about $718,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Rogers Communications by 1,046.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock worth $24,101,000 after purchasing an additional 547,201 shares during the last quarter. Institutional investors 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.