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 Thursday . The company traded as low as $35.01 and last traded at $35.20, with a volume of 18844 shares traded. The stock had previously closed at $35.29.

Analysts Set New Price Targets

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

Rogers Communications Stock Performance

The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The company’s 50-day moving average price is $38.19 and its two-hundred day moving average price is $38.61. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.11 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping 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 company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Rogers Communications’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that Rogers Communications Inc. will post 3.55 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, December 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Rogers Communications by 10.6% during the third quarter. Geode Capital Management LLC now owns 1,633,981 shares of the Wireless communications provider’s stock worth $66,176,000 after acquiring an additional 156,217 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Rogers Communications during the third quarter worth $2,559,000. Y Intercept Hong Kong Ltd bought a new position in Rogers Communications during the third quarter worth $206,000. Orion Portfolio Solutions LLC boosted its stake in Rogers Communications by 97.5% during the third quarter. Orion Portfolio Solutions LLC now owns 57,709 shares of the Wireless communications provider’s stock worth $2,320,000 after acquiring an additional 28,496 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Rogers Communications by 18.6% during 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 acquiring an additional 977,924 shares in 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.