Rogers Communications (RCI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a hold rating to a sell rating in a report issued on Monday.

According to Zacks, “Rogers Communications operates in an intensely competitive wireless and cable TV industry. The company’s media segment continues to remain affected by continued softness in the advertising market. Like other cable companies, Rogers also suffers from video subscriber loss due to cord-cutting. On the other hand, Rogers Communications' wireless and cable segment has been doing well with huge wireless and high-speed internet subscriber gain. We are bullish about the company’s wireless growth from the roll out of lower block spectrum and offering of Internet of Things as a service to business enterprises. Over the past one year, the stock price grew 24.5% beating the industry's gain of 10.5%. The company has maintained its position as the largest integrated-telecom operator in Canada.”

RCI has been the topic of a number of other research reports. Morgan Stanley lifted their target price on Rogers Communications from $67.00 to $71.00 and gave the company an equal weight rating in a research report on Friday, November 17th. Bank of America started coverage on Rogers Communications in a research report on Tuesday, November 21st. They issued a buy rating on the stock. Barclays lifted their target price on Rogers Communications from $56.00 to $58.00 and gave the company an equal weight rating in a research report on Friday, October 20th. TheStreet upgraded Rogers Communications from a c+ rating to a b rating in a research report on Thursday, October 19th. Finally, Desjardins upgraded Rogers Communications from a hold rating to a buy rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $63.50.

Rogers Communications (NYSE RCI) traded up $0.31 during trading on Monday, reaching $50.29. The company’s stock had a trading volume of 255,400 shares, compared to its average volume of 303,743. Rogers Communications has a 1 year low of $39.35 and a 1 year high of $54.95. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.38 and a current ratio of 0.41. The company has a market capitalization of $25,730.20, a PE ratio of 26.61, a PEG ratio of 3.23 and a beta of 0.92.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Rogers Communications by 3.3% in the second quarter. Vanguard Group Inc. now owns 8,055,432 shares of the Wireless communications provider’s stock valued at $380,297,000 after acquiring an additional 256,309 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Rogers Communications by 2.2% during the third quarter. Great West Life Assurance Co. Can now owns 4,816,024 shares of the Wireless communications provider’s stock worth $247,773,000 after purchasing an additional 103,687 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Rogers Communications by 82.0% during the third quarter. APG Asset Management N.V. now owns 3,061,063 shares of the Wireless communications provider’s stock worth $157,479,000 after purchasing an additional 1,379,400 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Rogers Communications by 5.4% during the third quarter. Russell Investments Group Ltd. now owns 2,582,482 shares of the Wireless communications provider’s stock worth $132,863,000 after purchasing an additional 132,934 shares during the last quarter. Finally, USS Investment Management Ltd bought a new stake in shares of Rogers Communications during the fourth quarter worth about $130,443,000. Hedge funds and other institutional investors own 47.32% of the company’s stock.

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Rogers Communications Company Profile

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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