Rogers Communications (NYSE:RCI) Sets New 1-Year Low - Time to Sell?

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B shares reached a new 52-week low on Wednesday . The stock traded as low as $31.40 and last traded at $31.47, with a volume of 54746 shares. The stock had previously closed at $31.67.

Analyst Ratings Changes

A number of brokerages have weighed in on RCI. Morgan Stanley began coverage on shares of Rogers Communications in a research report on Monday. They issued an "underweight" rating on the stock. TD Securities lifted their target price 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. Finally, BMO Capital Markets raised their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Rogers Communications has an average rating of "Hold" and an average target price of $61.75.

Rogers Communications Stock Down 2.9 %

The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The firm has a market cap of $16.44 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67. The stock's fifty day moving average is $36.13 and its two-hundred day moving average is $37.94.

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

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $0.3611 per share. The ex-dividend date is Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.70%. Rogers Communications's dividend payout ratio is 71.71%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cromwell Holdings LLC purchased a new stake in Rogers Communications during the 3rd quarter valued at $31,000. Ridgewood Investments LLC purchased a new position in Rogers Communications during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 522 shares during the period. Grove Bank & Trust raised its position in Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after purchasing an additional 302 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Rogers Communications in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors 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.