Rogers Communications (NYSE:RCI) Reaches New 1-Year Low – Should You Sell?

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $29.37 and last traded at $29.65, with a volume of 88444 shares traded. The stock had previously closed at $30.53.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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 report on Thursday, September 19th. TD Securities increased their target price 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, Morgan Stanley started coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Price Performance

The firm’s 50 day simple moving average is $33.76 and its two-hundred day simple moving average is $37.06. The firm has a market capitalization of $15.73 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.06 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 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 for 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 was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $0.3611 per share. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 4.91%. Rogers Communications’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCI. 1832 Asset Management L.P. boosted its stake in shares of Rogers Communications by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider’s stock worth $425,341,000 after acquiring an additional 288,614 shares during the period. Mackenzie Financial Corp boosted its stake in Rogers Communications by 10.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after purchasing an additional 974,937 shares during the period. Toronto Dominion Bank grew its holdings in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after buying an additional 2,206,690 shares in the last quarter. National Bank of Canada FI raised its position in shares of 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 valued at $250,886,000 after buying an additional 977,924 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Rogers Communications by 371.0% in the third quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares in the last quarter. Institutional investors 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.