Rogers Communications (NYSE:RCI) Coverage Initiated at Morgan Stanley

Research analysts at Morgan Stanley began coverage on shares of Rogers Communications (NYSE:RCI) (TSE:RCI.B) in a note issued to investors on Monday. The brokerage set an “underweight” rating on the Wireless communications provider’s stock.

RCI has been the subject of several other research reports. TD Securities increased their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. BMO Capital Markets upped their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.75.

Rogers Communications Trading Down 0.6 %

Shares of RCI opened at $31.69 on Monday. Rogers Communications has a 52-week low of $31.40 and a 52-week high of $48.19. 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 business’s fifty day moving average is $36.28 and its 200-day moving average is $37.99. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that Rogers Communications will post 3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Rogers Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after purchasing an additional 3,980,525 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock worth $5,383,000 after purchasing an additional 68,971 shares in the last quarter. MQS Management LLC bought a new position in shares of Rogers Communications in the third quarter valued at approximately $726,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Rogers Communications by 1,046.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 599,476 shares of the Wireless communications provider’s stock valued at $24,101,000 after purchasing an additional 547,201 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of 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. Hedge funds and other institutional investors own 45.49% of the company’s stock.

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.