Rogers Communications (NYSE:RCI) Reaches New 12-Month Low at $36.54

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) shares hit a new 52-week low during trading on Friday . The company traded as low as $36.54 and last traded at $36.78, with a volume of 36755 shares traded. The stock had previously closed at $36.76.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays cut their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 15th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Price Performance

The company has a market capitalization of $19.60 billion, a price-to-earnings ratio of 46.23, a price-to-earnings-growth ratio of 0.97 and a beta of 0.68. The business has a fifty day moving average price of $38.70 and a 200 day moving average price of $42.39. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. On average, research analysts expect that Rogers Communications Inc. will post 3.66 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, June 10th. Rogers Communications’s payout ratio is currently 181.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of Rogers Communications during the 4th quarter valued at about $1,719,000. Barometer Capital Management Inc. acquired a new stake in Rogers Communications during the fourth quarter valued at approximately $1,092,000. CIBC Asset Management Inc boosted its holdings in Rogers Communications by 19.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,532,864 shares of the Wireless communications provider’s stock worth $71,988,000 after buying an additional 247,496 shares in the last quarter. TD Asset Management Inc grew its position in Rogers Communications by 27.3% in the fourth quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock worth $520,980,000 after buying an additional 2,372,306 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Rogers Communications by 101.8% in the third quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock worth $5,040,000 after buying an additional 66,231 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.