Rogers Communications (NYSE:RCI) Sets New 1-Year Low – Here’s Why

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.61 and last traded at $24.85, with a volume of 306632 shares. The stock had previously closed at $25.82.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCI. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Morgan Stanley assumed coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a report on Friday. Finally, Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Down 4.1 %

The stock has a market capitalization of $13.27 billion, a PE ratio of 10.67, a P/E/G ratio of 1.43 and a beta of 0.67. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67. The stock’s fifty day simple moving average is $27.64 and its 200-day simple moving average is $32.21.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. As a group, sell-side analysts forecast that Rogers Communications Inc. will post 3.57 EPS for the current fiscal year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Monday, March 10th. Rogers Communications’s dividend payout ratio (DPR) is presently 59.48%.

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors have recently added to or reduced their stakes in RCI. Charles Schwab Investment Management Inc. lifted its position in Rogers Communications by 106.5% during the third 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. BNP Paribas Financial Markets grew its holdings in Rogers Communications by 107.3% during the 3rd 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. Verition Fund Management LLC lifted its stake in Rogers Communications by 7.9% in the third quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock worth $301,000 after purchasing an additional 551 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Rogers Communications by 3.7% during the third quarter. Quantinno Capital Management LP now owns 28,666 shares of the Wireless communications provider’s stock valued at $1,153,000 after purchasing an additional 1,023 shares during the period. Finally, State Street Corp lifted its holdings in shares of Rogers Communications by 0.5% in the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock worth $5,550,000 after buying an additional 661 shares during the period. 45.49% of the stock is 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.