Rogers Communications (NYSE:RCI) Hits New 12-Month Low – Here’s What Happened

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $30.19 and last traded at $30.55, with a volume of 843031 shares traded. The stock had previously closed at $30.75.

Analysts Set New Price Targets

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

Rogers Communications Trading Down 0.2 %

The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.06 and a beta of 0.67. The company has a fifty day moving average price of $35.51 and a 200-day moving average price of $37.66.

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, beating analysts’ consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. Rogers Communications’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, research analysts expect that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.74%. Rogers Communications’s dividend payout ratio is presently 71.71%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cromwell Holdings LLC purchased a new position in shares of Rogers Communications in the 3rd quarter valued at about $31,000. Ridgewood Investments LLC acquired a new stake in Rogers Communications in the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 522 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after buying an additional 302 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Rogers Communications during the 2nd quarter valued at approximately $55,000. Institutional investors and hedge funds 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.