Morgan Stanley Initiates Coverage on Rogers Communications (NYSE:RCI)

Investment analysts at Morgan Stanley started coverage on shares of Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B in a report issued on Monday. The firm set an "underweight" rating on the Wireless communications provider's stock.

A number of other research firms have also recently commented on RCI. TD Securities boosted their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. BMO Capital Markets lifted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.75.

Rogers Communications Stock Down 4.5 %

NYSE RCI traded down $1.50 during trading hours on Monday, hitting $31.90. The company had a trading volume of 1,306,790 shares, compared to its average volume of 808,624. The firm's 50 day moving average is $36.41 and its 200 day moving average is $38.05. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. Rogers Communications has a fifty-two week low of $31.89 and a fifty-two week high of $48.19. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.35. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Sell-side analysts anticipate that Rogers Communications will post 3.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Rogers Communications by 342.3% in the 2nd quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider's stock worth $67,000 after acquiring an additional 1,400 shares in the last quarter. Monarch Capital Management Inc. boosted its holdings in Rogers Communications by 12.7% in the second quarter. Monarch Capital Management Inc. now owns 38,693 shares of the Wireless communications provider's stock worth $1,438,000 after purchasing an additional 4,360 shares during the period. Bank of New York Mellon Corp increased its stake in Rogers Communications by 39.1% during the second quarter. Bank of New York Mellon Corp now owns 571,923 shares of the Wireless communications provider's stock valued at $21,150,000 after purchasing an additional 160,768 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Rogers Communications during the second quarter worth $37,000. Finally, Tobam lifted its position in shares of Rogers Communications by 6.3% in the 2nd quarter. Tobam now owns 14,995 shares of the Wireless communications provider's stock worth $555,000 after buying an additional 891 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

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.