Rogers Communications (NYSE:RCI) Reaches New 52-Week Low at $40.79

Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $40.79 and last traded at $41.31, with a volume of 12452 shares trading hands. The stock had previously closed at $41.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RCI shares. Desjardins decreased their price target on Rogers Communications from C$80.00 to C$79.00 in a research note on Friday, July 29th. Canaccord Genuity Group reduced their price objective on Rogers Communications from C$69.00 to C$68.00 and set a “buy” rating for the company in a research note on Friday, July 22nd. Scotiabank reduced their price objective on Rogers Communications from C$73.00 to C$72.50 in a research note on Tuesday, September 6th. BMO Capital Markets reduced their price objective on Rogers Communications from C$75.00 to C$72.00 in a research note on Monday, July 11th. Finally, Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.65.

Rogers Communications Stock Performance

The stock has a market capitalization of $20.92 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.35 and a beta of 0.45. The firm has a fifty day moving average of $44.31 and a 200 day moving average of $49.40. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.49 and a quick ratio of 2.43.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last posted its earnings results on Wednesday, July 27th. The Wireless communications provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. Rogers Communications had a return on equity of 18.10% and a net margin of 11.26%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.94 billion. On average, sell-side analysts anticipate that Rogers Communications Inc. will post 2.88 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.3884 dividend. This represents a $1.55 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, September 8th. Rogers Communications’s payout ratio is currently 58.69%.

Institutional Trading of Rogers Communications

Several institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in Rogers Communications by 3.0% in the first quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider’s stock valued at $413,000 after purchasing an additional 213 shares during the period. Brinker Capital Investments LLC boosted its stake in shares of Rogers Communications by 3.1% in the first quarter. Brinker Capital Investments LLC now owns 7,523 shares of the Wireless communications provider’s stock worth $427,000 after acquiring an additional 226 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Rogers Communications by 33.3% in the second quarter. Parallel Advisors LLC now owns 1,108 shares of the Wireless communications provider’s stock worth $53,000 after acquiring an additional 277 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of Rogers Communications by 4.3% in the second quarter. Cigna Investments Inc. New now owns 6,829 shares of the Wireless communications provider’s stock worth $326,000 after acquiring an additional 280 shares during the last quarter. Finally, Investors Research Corp boosted its stake in shares of Rogers Communications by 1.8% in the first quarter. Investors Research Corp now owns 17,300 shares of the Wireless communications provider’s stock worth $982,000 after acquiring an additional 300 shares during the last quarter. 44.35% of the stock is owned by institutional investors and hedge funds.

About Rogers Communications

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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

Further Reading

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