Rogers Communication (NYSE:RCI) Hits New 12-Month Low – Should You Sell?

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $30.07 and last traded at $30.1490, with a volume of 533383 shares trading hands. The stock had previously closed at $30.38.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings upgraded Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Scotiabank reaffirmed an “outperform” rating on shares of Rogers Communication in a research report on Tuesday, July 7th. Raymond James Financial initiated coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Barclays lowered their price target on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. Finally, Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday, September 14th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rogers Communication presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Rogers Communication Price Performance

The stock’s fifty day moving average is $34.97 and its 200-day moving average is $35.47. The stock has a market capitalization of $16.26 billion, a PE ratio of 3.63, a P/E/G ratio of 3.86 and a beta of 0.65. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. As a group, equities analysts predict that Rogers Communication, Inc. will post 3.26 earnings per share for the current fiscal year.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 8th were issued a C$0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.6%. Rogers Communication’s dividend payout ratio is presently 17.39%.

Institutional Trading of Rogers Communication

Several institutional investors have recently bought and sold shares of RCI. Fiera Capital Corp lifted its holdings in Rogers Communication by 8,881.3% during the 4th quarter. Fiera Capital Corp now owns 7,196,876 shares of the Wireless communications provider’s stock worth $271,751,000 after buying an additional 7,116,744 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Rogers Communication by 98.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock worth $77,871,000 after purchasing an additional 1,004,963 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Rogers Communication by 7.6% in the 1st quarter. Bank of Nova Scotia now owns 6,280,164 shares of the Wireless communications provider’s stock valued at $241,467,000 after buying an additional 445,964 shares during the last quarter. Swiss National Bank grew its holdings in shares of Rogers Communication by 27.0% during the first quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock worth $47,146,000 after purchasing an additional 261,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Rogers Communication by 277.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 317,533 shares of the Wireless communications provider’s stock valued at $12,208,000 after purchasing an additional 233,449 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Founded by Ted Rogers in 1960, the company provides wireless and wireline telecommunications services to consumers, businesses and public-sector organizations across Canada.

Rogers’ telecommunications operations include mobile voice and data services, high-speed internet, cable television, home phone services and related connectivity products. The company also offers business communications, networking, cybersecurity and information technology services through its enterprise operations.

Through Rogers Sports & Media, the company operates television and radio networks, digital media properties and sports-related businesses.