Rogers Communications (NYSE:RCI) Sets New 12-Month Low – What’s Next?

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $29.91 and last traded at $29.98, with a volume of 81336 shares traded. The stock had previously closed at $30.36.

Analyst Ratings Changes

Several brokerages have recently commented on RCI. BMO Capital Markets raised their target price on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. TD Securities boosted their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Performance

The firm has a market cap of $16.15 billion, a P/E ratio of 14.74, a PEG ratio of 1.06 and a beta of 0.67. 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 company’s 50-day moving average is $35.03 and its two-hundred day moving average is $37.50.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 annualized dividend and a dividend yield of 4.78%. Rogers Communications’s payout ratio is 71.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its position in shares of Rogers Communications by 2.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after buying an additional 288,614 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after acquiring an additional 974,937 shares during the last quarter. Toronto Dominion Bank lifted its holdings in 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 acquiring an additional 2,206,690 shares during the period. National Bank of Canada FI boosted its position in Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the last quarter. Finally, 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. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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.