Rogers Communications (NYSE:RCI) Hits New 52-Week Low – Here’s Why

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B)’s share price reached a new 52-week low on Friday . The stock traded as low as $29.37 and last traded at $29.65, with a volume of 88444 shares changing hands. The stock had previously closed at $30.53.

Wall Street Analyst Weigh In

RCI has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. BMO Capital Markets lifted their price target on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, TD Securities upped their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Price Performance

The company has a market cap of $15.48 billion, a P/E ratio of 14.13, a PEG ratio of 1.06 and a beta of 0.69. 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 company has a fifty day moving average price of $33.62 and a two-hundred day moving average price of $36.99.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted 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. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, sell-side analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 68.78%.

Institutional Trading of Rogers Communications

Hedge funds have recently made changes to their positions in the business. Cromwell Holdings LLC acquired a new position in Rogers Communications in the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after purchasing an additional 302 shares during the period. Acadian Asset Management LLC acquired a new stake in Rogers Communications during the 2nd quarter worth approximately $55,000. Finally, Nexus Investment Management ULC bought a new stake in Rogers Communications in the 3rd quarter valued at $203,000. 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.