Rogers Communications (NYSE:RCI) Sets New 12-Month Low - Here's Why

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B's stock price hit a new 52-week low on Friday . The company traded as low as $27.58 and last traded at $27.78, with a volume of 200003 shares traded. The stock had previously closed at $28.62.

Analysts Set New Price Targets

Several analysts have commented on RCI shares. Morgan Stanley assumed coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an "underweight" rating on the stock. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Finally, Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $61.75.

Rogers Communications Stock Down 4.0 %

The business's fifty day moving average price is $31.51 and its two-hundred day moving average price is $36.19. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a market capitalization of $14.68 billion, a P/E ratio of 13.45, a PEG ratio of 1.07 and a beta of 0.69.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Equities analysts expect that Rogers Communications Inc. will post 3.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rogers Communications

Several institutional investors have recently added to or reduced their stakes in RCI. National Bank of Canada FI raised its stake in shares of Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider's stock valued at $250,886,000 after acquiring an additional 977,924 shares during the period. The Manufacturers Life Insurance Company grew its stake in Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider's stock worth $203,334,000 after buying an additional 3,980,525 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider's stock valued at $115,775,000 after acquiring an additional 1,375,043 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider's stock valued at $104,965,000 after buying an additional 1,211,482 shares during the period. Finally, FMR LLC raised its position in shares of Rogers Communications by 2.8% during the third quarter. FMR LLC now owns 2,496,298 shares of the Wireless communications provider's stock worth $100,372,000 after purchasing an additional 68,759 shares during the period. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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