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

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B's stock price reached a new 52-week low during trading on Friday . The stock traded as low as $34.86 and last traded at $34.86, with a volume of 396193 shares changing hands. The stock had previously closed at $36.11.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Securities upped their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. BMO Capital Markets increased their target price on Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $61.75.

Rogers Communications Price Performance

The company has a market cap of $18.79 billion, a PE ratio of 17.15, a PEG ratio of 1.11 and a beta of 0.67. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The stock's 50-day moving average is $37.07 and its 200 day moving average is $38.29.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter last year, the firm earned $0.95 EPS. The business's quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that Rogers Communications Inc. will post 3.56 earnings per share for the current fiscal year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $0.3611 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.11%. Rogers Communications's dividend payout ratio is currently 72.20%.

Institutional Trading of Rogers Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cromwell Holdings LLC purchased a new position in shares of Rogers Communications in the third quarter worth about $31,000. Ridgewood Investments LLC purchased a new position in Rogers Communications during the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock valued at $37,000 after acquiring an additional 522 shares during the period. Grove Bank & Trust boosted its holdings in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications in the second quarter worth $55,000. Institutional investors and hedge funds own 45.49% of the company's stock.

About Rogers Communications

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.