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

TD Securities upgraded shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) to a buy rating in a research report released on Monday morning, The Fly reports.

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

Shares of NYSE RCI opened at $46.17 on Monday. The firm’s 50-day moving average price is $49.40 and its 200-day moving average price is $51.44. Rogers Communications has a 1-year low of $45.94 and a 1-year high of $55.93. The firm has a market capitalization of $25.97 billion, a P/E ratio of 13.78, a P/E/G ratio of 3.38 and a beta of 0.52. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.94.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.19. Rogers Communications had a net margin of 13.79% and a return on equity of 26.66%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Rogers Communications will post 3.36 EPS for the current year.

Large investors have recently bought and sold shares of the company. Neuburgh Advisers LLC increased its position in shares of Rogers Communications by 12.2% during the second quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 256 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Rogers Communications during the second quarter worth about $153,000. Glen Harbor Capital Management LLC increased its position in shares of Rogers Communications by 12.2% during the second quarter. Glen Harbor Capital Management LLC now owns 3,234 shares of the Wireless communications provider’s stock worth $166,000 after acquiring an additional 352 shares in the last quarter. Riverhead Capital Management LLC grew its position in Rogers Communications by 11.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,765 shares of the Wireless communications provider’s stock worth $194,000 after purchasing an additional 400 shares in the last quarter. Finally, Elkfork Partners LLC grew its position in Rogers Communications by 12.2% in the 2nd quarter. Elkfork Partners LLC now owns 4,116 shares of the Wireless communications provider’s stock worth $212,000 after purchasing an additional 448 shares in the last quarter. 43.25% of the stock is 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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