Canaccord Genuity Group Upgrades Rogers Communications (NYSE:RCI) to Buy

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday,Finviz reports.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday. Finally, Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Rogers Communications presently has a consensus rating of “Hold” and an average price target of $61.75.

Rogers Communications Stock Down 0.2 %

Rogers Communications stock traded down $0.05 during trading on Friday, reaching $26.02. 1,038,384 shares of the company’s stock were exchanged, compared to its average volume of 979,742. Rogers Communications has a 52-week low of $24.76 and a 52-week high of $41.84. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The company’s 50-day moving average is $27.78 and its two-hundred day moving average is $32.53.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, analysts predict that Rogers Communications will post 3.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc acquired a new position in Rogers Communications in the first quarter valued at approximately $79,000. Wellington Management Group LLP grew its stake in Rogers Communications by 95.6% during the 4th quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider’s stock worth $1,334,000 after buying an additional 21,226 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in Rogers Communications by 239.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider’s stock worth $1,306,000 after buying an additional 29,982 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Rogers Communications by 280.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider’s stock valued at $7,428,000 after buying an additional 178,145 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rogers Communications by 7.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 749,464 shares of the Wireless communications provider’s stock valued at $23,031,000 after acquiring an additional 53,208 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

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.