Is Rogers Comms (NYSE:RCI) In Trouble? Morgan Stanley Issues Downgrade.


Rogers Comms (NYSE:RCI) Receives a Downgrade

The Equity Rating of Rogers Comms (NYSE:RCI) rating was lowered by professional analysts at Morgan Stanley from the previous “Overweight” rating to a “Equal-Weight” rating in analysts note revealed on Thursday, 17 December.

From a total of 10 analysts covering Rogers Comms (NYSE:RCI) stock, 5 rate it a ”Buy”, 1 a “Sell”, and 4 a ”Hold”. This means that 50% of the ratings are positive. Rogers Comms was the topic of 5 analyst reports since October 9, 2015 according to the firm StockzIntelligence Inc. TD Securities upgraded shares on December 11 to “Buy” rating. Macquarie Research upgraded RCI stock in a recent report from October 20 to “Outperform” rating.

Approximately 432,695 shares of stock traded hands or 12.17% up from the average. Rogers Communications Inc. (USA) (NYSE:RCI) has risen 2.24% since May 14, 2015 and is uptrending. It has outperformed by 4.51% the S&P500.

The overall sentiment of institutions has increased to 0.86 in Q2 2015. Its up 0.10, from 0.76 in 2015Q2. The ratio increased, as 26 institutions have sold all the shares of Rogers Communications Inc. (USA) that they owned while 93 funds have taken shares off the table. 21 funds have purchased shares for the first time while 81 added to their positions. These institutions now hold 247.43 million shares or 1.23% more than the 244.42 million shares they owned in 2015Q2.

The Fund Beutel Goodman & Co Ltd. currently is holding shares equating to 8.44% of its total portfolio in Rogers Communications Inc. (USA) representing a total of 22.41 million shares. Another fund,Symons Capital Management Inc, is holding a total of 443,485 shares equating to 4.12% of their holdings. Additionally, Lincluden Management Ltd has a 599,492 share stake in Rogers Communications Inc. (USA) which represents 4% of their total portfolio. The Fund, Baskin Financial Services Inc., based out of Ontario – Canada, has also built up a stake in the stock, which represents a total of 3.45% of their total portfolio. Finally Scheer Rowlett & Associates Investment Management Ltd., a fund which is based in the state of Ontario – Canada reported a total holdings of 1.64 million shares.

Rogers Communications Inc. is a Canada communications and media company. The company has a market cap of $18.76 billion. The Firm operates through four divisions: Wireless, Cable, Business Solutions and Media. It has 17.61 P/E ratio. The Wireless segment offers wireless telecommunications activities for Canadian clients and businesses.

According to Zacks Investment Research, “Rogers Communications is Canada’s national communications company engaged in Digital PCS, cellular, messaging and data communications through Rogers AT&T Wireless; in cable television, high-speed Internet access and video retailing through Rogers Cable; and in radio and television broadcasting, tele-shopping, publishing and new media businesses through Rogers Media. Rogers AT&T Wireless is Canada’s largest national wireless communications service provider offering subscribers a broad spectrum of wireless communications products and services.”