Rogers Communications (RCI) Raised to “Buy” at Desjardins

Desjardins upgraded shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a hold rating to a buy rating in a research report released on Monday, Marketbeat.com reports. Desjardins also issued estimates for Rogers Communications’ FY2017 earnings at $2.78 EPS and FY2019 earnings at $3.39 EPS.

Several other equities analysts have also issued reports on RCI. Zacks Investment Research upgraded Rogers Communications from a hold rating to a buy rating and set a $59.00 price target on the stock in a research note on Tuesday, October 24th. TheStreet upgraded Rogers Communications from a c+ rating to a b rating in a research note on Thursday, October 19th. Bank of America started coverage on Rogers Communications in a research note on Tuesday, November 21st. They set a buy rating on the stock. Morgan Stanley boosted their price target on Rogers Communications from $67.00 to $71.00 and gave the company an equal weight rating in a research note on Friday, November 17th. Finally, Barclays boosted their price target on Rogers Communications from $56.00 to $58.00 and gave the company an equal weight rating in a research note on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Rogers Communications currently has an average rating of Buy and a consensus target price of $61.80.

Rogers Communications (NYSE RCI) traded down $0.23 during trading on Monday, hitting $50.47. The stock had a trading volume of 656,213 shares, compared to its average volume of 342,200. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $26,000.00, a price-to-earnings ratio of 25.62, a PEG ratio of 3.27 and a beta of 0.93. Rogers Communications has a twelve month low of $38.15 and a twelve month high of $54.95.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 19th. The Wireless communications provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.19). The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. Rogers Communications had a return on equity of 31.06% and a net margin of 13.04%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. analysts predict that Rogers Communications will post 2.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, December 8th. This represents a $1.92 annualized dividend and a yield of 3.80%. Rogers Communications’s dividend payout ratio is 78.17%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AXA boosted its holdings in Rogers Communications by 1.8% during the second quarter. AXA now owns 27,848 shares of the Wireless communications provider’s stock valued at $1,315,000 after purchasing an additional 500 shares in the last quarter. OxFORD Asset Management LLP boosted its holdings in Rogers Communications by 11.8% during the second quarter. OxFORD Asset Management LLP now owns 8,138 shares of the Wireless communications provider’s stock valued at $384,000 after purchasing an additional 857 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Rogers Communications by 8.3% during the second quarter. Advisory Services Network LLC now owns 12,221 shares of the Wireless communications provider’s stock valued at $577,000 after purchasing an additional 935 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Rogers Communications by 11.1% during the second quarter. Voya Investment Management LLC now owns 13,174 shares of the Wireless communications provider’s stock valued at $621,000 after purchasing an additional 1,318 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its holdings in Rogers Communications by 0.4% during the third quarter. Baskin Financial Services Inc. now owns 318,239 shares of the Wireless communications provider’s stock valued at $16,366,000 after purchasing an additional 1,380 shares in the last quarter. 47.15% of the stock is currently owned by institutional investors.

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About Rogers Communications

Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.

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