Rogers Communications (NYSE:RCI) Reaches New 1-Year Low – Here’s What Happened

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $25.64 and last traded at $25.24, with a volume of 191945 shares. The stock had previously closed at $26.73.

Analyst Ratings Changes

A number of research analysts recently issued reports on RCI shares. Barclays reiterated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Morgan Stanley assumed coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Scotiabank cut Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Rogers Communications has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Trading Down 6.4 %

The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.61 and a current ratio of 0.66. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.43 and a beta of 0.67. The firm has a fifty day moving average price of $27.94 and a 200-day moving average price of $32.74.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that Rogers Communications Inc. will post 3.57 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th will be given a dividend of $0.347 per share. The ex-dividend date is Monday, March 10th. This represents a $1.39 annualized dividend and a yield of 5.55%. Rogers Communications’s dividend payout ratio is currently 59.48%.

Institutional Investors Weigh In On Rogers Communications

A number of large investors have recently modified their holdings of RCI. Charles Schwab Investment Management Inc. boosted its stake in Rogers Communications by 106.5% in 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 buying an additional 68,971 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Rogers Communications in the fourth quarter worth about $718,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Rogers Communications by 180.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 344,131 shares of the Wireless communications provider’s stock valued at $10,560,000 after purchasing an additional 221,628 shares in the last quarter. Louisbourg Investments Inc. grew its holdings in shares of Rogers Communications by 18.9% during the 4th quarter. Louisbourg Investments Inc. now owns 246,470 shares of the Wireless communications provider’s stock valued at $7,573,000 after purchasing an additional 39,156 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position 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 worth $1,505,000 after purchasing an additional 19,378 shares in the last quarter. Institutional investors and hedge funds 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.