JPMorgan Chase & Co. Downgrades Rogers Communications (NYSE:RCI) to Underweight

JPMorgan Chase & Co. lowered shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) from a neutral rating to an underweight rating in a research note published on Monday, BenzingaRatingsTable reports.

Several other research analysts have also commented on the company. Echelon Wealth Partners lowered Rogers Communications from a buy rating to a hold rating in a research report on Monday, April 22nd. Scotiabank lowered Rogers Communications from a sector outperform rating to a sector perform rating in a research report on Monday, April 22nd. Scotia Howard Weill restated a sector perform rating on shares of Rogers Communications in a research report on Monday, April 22nd. Howard Weil lowered Rogers Communications from a sector outperform rating to a sector perform rating in a research report on Monday, April 22nd. Finally, Desjardins upgraded Rogers Communications from a hold rating to a buy rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Rogers Communications has a consensus rating of Hold and a consensus target price of $54.68.

Rogers Communications stock traded up $0.18 during mid-day trading on Monday, hitting $53.93. The company’s stock had a trading volume of 296,526 shares, compared to its average volume of 394,196. Rogers Communications has a 1 year low of $48.67 and a 1 year high of $55.93. The business has a fifty day moving average price of $53.07. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 3.22 and a beta of 0.55. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Rogers Communications had a return on equity of 27.28% and a net margin of 13.47%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business posted $0.93 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, analysts predict that Rogers Communications will post 3.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $0.3732 dividend. This represents a $1.49 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, September 6th. Rogers Communications’s payout ratio is currently 44.18%.

Several hedge funds and other institutional investors have recently made changes to their positions in RCI. Norges Bank acquired a new stake in shares of Rogers Communications in the fourth quarter valued at $88,666,000. Nordea Investment Management AB raised its stake in Rogers Communications by 1,093.0% in the fourth quarter. Nordea Investment Management AB now owns 1,634,295 shares of the Wireless communications provider’s stock valued at $114,337,000 after buying an additional 1,497,300 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Rogers Communications in the first quarter valued at $73,262,000. Lazard Asset Management LLC raised its stake in Rogers Communications by 126.3% in the first quarter. Lazard Asset Management LLC now owns 1,280,181 shares of the Wireless communications provider’s stock valued at $68,899,000 after buying an additional 714,420 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Rogers Communications by 522.2% in the first quarter. Pictet Asset Management Ltd. now owns 847,719 shares of the Wireless communications provider’s stock valued at $45,605,000 after buying an additional 711,477 shares in the last quarter. Institutional investors and hedge funds own 44.05% 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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Analyst Recommendations for Rogers Communications (NYSE:RCI)

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