Rogers Communications (NYSE:RCI) Hits New 52-Week Low – Here’s Why

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B)’s stock price hit 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 changing hands. The stock had previously closed at $26.73.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RCI shares. Scotiabank cut shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley began coverage on Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Performance

The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.43 and a beta of 0.67. The firm’s 50-day moving average is $27.82 and its two-hundred day moving average is $32.58. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 3.67.

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

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 10th were issued a $0.347 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.39 dividend on an annualized basis and a yield of 5.49%. Rogers Communications’s payout ratio is currently 59.48%.

Institutional Investors Weigh In On Rogers Communications

Large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its position in Rogers Communications by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider’s stock worth $725,000 after acquiring an additional 379 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Rogers Communications by 7.9% during the 3rd 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. PNC Financial Services Group Inc. boosted its holdings in shares of Rogers Communications by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider’s stock worth $436,000 after purchasing an additional 571 shares during the last quarter. Waldron Private Wealth LLC grew its position in shares of Rogers Communications by 3.1% in the fourth quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider’s stock valued at $682,000 after purchasing an additional 660 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Rogers Communications by 0.5% in the third quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider’s stock valued at $5,550,000 after purchasing an additional 661 shares during the last quarter. Hedge funds and other institutional investors 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.