Rogers Communications (NYSE:RCI) Hits New 1-Year Low – Time to Sell?

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $35.21 and last traded at $35.26, with a volume of 39817 shares. The stock had previously closed at $35.84.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RCI shares. Canaccord Genuity Group restated a “hold” rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. BMO Capital Markets upped their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Price Performance

The firm has a 50-day moving average of $38.78 and a 200-day moving average of $38.70. The stock has a market cap of $19.18 billion, a PE ratio of 17.49, a PEG ratio of 1.11 and a beta of 0.69. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts predict that Rogers Communications Inc. will post 3.55 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $0.3611 dividend. This represents a $1.44 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Monday, December 9th. Rogers Communications’s payout ratio is currently 72.20%.

Institutional Investors Weigh In On Rogers Communications

Several large investors have recently made changes to their positions in RCI. BNP Paribas Financial Markets lifted its position in Rogers Communications by 107.3% during the third quarter. BNP Paribas Financial Markets now owns 37,436 shares of the Wireless communications provider’s stock valued at $1,505,000 after purchasing an additional 19,378 shares during the last quarter. FMR LLC lifted its stake in shares of Rogers Communications by 2.8% in the 3rd quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider’s stock valued at $100,372,000 after purchasing an additional 68,759 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of 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 last quarter. Citigroup Inc. boosted its holdings in shares of Rogers Communications by 7.1% in the 3rd quarter. Citigroup Inc. now owns 340,684 shares of the Wireless communications provider’s stock worth $13,714,000 after purchasing an additional 22,660 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Rogers Communications by 106.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 133,760 shares of the Wireless communications provider’s stock valued at $5,383,000 after purchasing an additional 68,971 shares during the last quarter. 45.49% of the stock is owned by 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.