Rogers Communications (NYSE:RCI) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank lowered shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a sector outperform rating to a sector perform rating in a report published on Tuesday morning, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on RCI. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley assumed coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Price Performance

Rogers Communications stock opened at $25.30 on Tuesday. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a 50-day moving average of $27.88 and a two-hundred day moving average of $32.63. Rogers Communications has a 1 year low of $24.76 and a 1 year high of $41.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly 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, research analysts forecast that Rogers Communications will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be paid a $0.347 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.49%. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Institutional Trading of Rogers Communications

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Rogers Communications by 95.6% in the fourth quarter. Wellington Management Group LLP now owns 43,424 shares of the Wireless communications provider’s stock valued at $1,334,000 after acquiring an additional 21,226 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of Rogers Communications by 239.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 42,500 shares of the Wireless communications provider’s stock valued at $1,306,000 after purchasing an additional 29,982 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Rogers Communications by 280.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,730 shares of the Wireless communications provider’s stock worth $7,428,000 after purchasing an additional 178,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rogers Communications by 7.6% during the 4th 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 worth $23,031,000 after buying an additional 53,208 shares during the last quarter. Finally, Twinbeech Capital LP increased its position in Rogers Communications by 235.5% during the 4th quarter. Twinbeech Capital LP now owns 28,844 shares of the Wireless communications provider’s stock valued at $886,000 after buying an additional 20,246 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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.