Rogers Communication (NYSE:RCI) Hits New 1-Year Low – Here’s Why

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) shares 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 traded. The stock had previously closed at $30.38.

Wall Street Analysts Forecast Growth

RCI has been the topic of several research reports. Wall Street Zen lowered Rogers Communication from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Barclays cut their target price on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Raymond James Financial began coverage on shares of Rogers Communication in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, TD Securities reissued a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Rogers Communication Price Performance

The firm has a market capitalization of $16.62 billion, a P/E ratio of 3.72, a P/E/G ratio of 3.84 and a beta of 0.65. The stock’s fifty day simple moving average is $34.81 and its 200 day simple moving average is $35.36. 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 results 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 business had revenue of $3.95 billion for 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 company’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. On average, equities research analysts predict that Rogers Communication, Inc. will post 3.24 EPS for the current year.

Rogers Communication Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th were paid a C$0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.5%. The ex-dividend date was Tuesday, September 8th. Rogers Communication’s dividend payout ratio (DPR) is 17.39%.

Hedge Funds Weigh In On Rogers Communication

A number of large investors have recently made changes to their positions in RCI. Bank of Nova Scotia boosted 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 worth $241,467,000 after purchasing an additional 445,964 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Rogers Communication by 98.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,580 shares of the Wireless communications provider’s stock valued at $77,871,000 after buying an additional 1,004,963 shares in the last quarter. Gabelli Funds LLC increased its position in Rogers Communication by 10.5% during the 1st quarter. Gabelli Funds LLC now owns 1,495,950 shares of the Wireless communications provider’s stock valued at $57,519,000 after buying an additional 142,650 shares in the last quarter. Swiss National Bank raised its stake in Rogers Communication by 27.0% in the first quarter. Swiss National Bank now owns 1,227,700 shares of the Wireless communications provider’s stock valued at $47,146,000 after buying an additional 261,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in Rogers Communication by 4.2% in the first quarter. Hillsdale Investment Management Inc. now owns 991,365 shares of the Wireless communications provider’s stock valued at $38,117,000 after buying an additional 39,638 shares during the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

About Rogers Communication

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.