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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $33.68 and last traded at $33.69, with a volume of 74740 shares trading hands. The stock had previously closed at $34.20.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. TD Securities lifted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Rogers Communications has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The firm has a 50-day simple moving average of $36.54 and a 200 day simple moving average of $38.12. The company has a market cap of $17.85 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.07 by $0.35. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Rogers Communications’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, sell-side analysts predict that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.33%. Rogers Communications’s payout ratio is 72.20%.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust grew its stake in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 302 shares during the last quarter. Creative Planning lifted its holdings in shares of Rogers Communications by 2.2% during the third quarter. Creative Planning now owns 22,282 shares of the Wireless communications provider’s stock worth $896,000 after purchasing an additional 486 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 522 shares during the last quarter. Verition Fund Management LLC increased its stake in Rogers Communications by 7.9% in the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider’s stock valued at $301,000 after buying an additional 551 shares during the period. Finally, State Street Corp raised its position in Rogers Communications by 0.5% during 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 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.