Rogers Communications (NYSE:RCI) Sets New 1-Year Low – What’s Next?

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $31.40 and last traded at $31.47, with a volume of 54746 shares. The stock had previously closed at $31.67.

Analysts Set New Price Targets

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

Rogers Communications Stock Down 0.6 %

The company has a market cap of $16.83 billion, a PE ratio of 15.46, a P/E/G 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 $36.28 and its 200 day moving average is $37.99.

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 for the quarter, beating the consensus estimate of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, analysts predict that Rogers Communications Inc. will post 3.56 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, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Monday, December 9th. Rogers Communications’s payout ratio is 71.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Cromwell Holdings LLC acquired a new stake in shares of Rogers Communications during the third quarter worth $31,000. Ridgewood Investments LLC purchased a new stake in Rogers Communications during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $37,000 after purchasing an additional 522 shares during the last quarter. Grove Bank & Trust lifted its holdings 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. Finally, Acadian Asset Management LLC purchased a new stake in Rogers Communications in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 45.49% of the company’s stock.

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.