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

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B was downgraded by equities researchers at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Tuesday, MarketBeat reports.

RCI has been the subject of a number of other research reports. Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating for the company. Bank of America cut shares of Rogers Communications from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Finally, Barclays reiterated an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Rogers Communications has a consensus rating of "Hold" and an average target price of $61.75.

Rogers Communications Stock Performance

Shares of NYSE:RCI traded up $0.77 during mid-day trading on Tuesday, reaching $26.06. The company had a trading volume of 2,025,830 shares, compared to its average volume of 986,955. Rogers Communications has a one year low of $24.76 and a one year high of $41.84. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The company's 50-day moving average price is $27.82 and its 200-day moving average price is $32.58. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.43 and a beta of 0.67.

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Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that Rogers Communications will post 3.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Rogers Communications by 106.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider's stock valued at $5,383,000 after buying an additional 68,971 shares during the period. FMR LLC boosted its position in shares of Rogers Communications by 2.8% during the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider's stock valued at $100,372,000 after acquiring an additional 68,759 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Rogers Communications by 107.3% during the third quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider's stock worth $1,505,000 after purchasing an additional 19,378 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of Rogers Communications in the third quarter worth approximately $305,000. Finally, Verition Fund Management LLC raised its stake in Rogers Communications by 7.9% in the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider's stock valued at $301,000 after purchasing an additional 551 shares in the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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.