Rogers Communications (NYSE:RCI) Receives Equal Weight Rating from Barclays

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

RCI has been the topic of a number of other research reports. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Stock Up 0.3 %

NYSE:RCI opened at $28.28 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.05 and a beta of 0.69. Rogers Communications has a one year low of $27.63 and a one year high of $48.19. The stock has a 50-day simple moving average of $32.65 and a 200 day simple moving average of $36.65.

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

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 5.11%. The ex-dividend date was Monday, December 9th. Rogers Communications’s dividend payout ratio is currently 68.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RCI. American Century Companies Inc. lifted its holdings in Rogers Communications by 9.7% in the second quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 6,099 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Rogers Communications by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock worth $22,341,000 after acquiring an additional 33,930 shares during the period. XTX Topco Ltd boosted its holdings in shares of Rogers Communications by 12.6% in the second quarter. XTX Topco Ltd now owns 16,694 shares of the Wireless communications provider’s stock valued at $617,000 after acquiring an additional 1,869 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Rogers Communications by 17.4% during the second quarter. Ensign Peak Advisors Inc now owns 35,717 shares of the Wireless communications provider’s stock worth $1,364,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after purchasing an additional 2,206,690 shares in 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.