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

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

Analyst Upgrades and Downgrades

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

Rogers Communications Stock Up 0.1 %

The business has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $32.58. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.43 and a beta of 0.67. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted 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 return on equity of 25.19% and a net margin of 8.40%. As a group, equities analysts predict that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were paid a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications’s payout ratio is currently 59.48%.

Hedge Funds Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. Lindbrook Capital LLC raised its stake in shares of Rogers Communications by 95.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,526 shares of the Wireless communications provider’s stock valued at $47,000 after acquiring an additional 744 shares in the last quarter. Jones Financial Companies Lllp raised its position in Rogers Communications by 141.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,796 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 1,052 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Rogers Communications by 274.2% in the 4th quarter. Headlands Technologies LLC now owns 5,306 shares of the Wireless communications provider’s stock valued at $163,000 after buying an additional 3,888 shares during the period. V Square Quantitative Management LLC grew its position in shares of Rogers Communications by 19.1% during the fourth quarter. V Square Quantitative Management LLC now owns 5,795 shares of the Wireless communications provider’s stock worth $178,000 after buying an additional 930 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Rogers Communications during the third quarter worth approximately $206,000. 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.