Rogers Communications (NYSE:RCI) Stock Price Down 3.5% - Should You Sell?

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B's share price was down 3.5% during mid-day trading on Tuesday . The stock traded as low as $28.29 and last traded at $28.35. Approximately 182,079 shares were traded during trading, a decline of 80% from the average daily volume of 899,890 shares. The stock had previously closed at $29.37.

Analyst Ratings Changes

A number of brokerages have recently commented on RCI. BMO Capital Markets upped their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Morgan Stanley started coverage on shares of Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating on the stock. Finally, Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $61.75.

Rogers Communications Stock Down 2.8 %

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 company has a market cap of $15.25 billion, a PE ratio of 13.92, a PEG ratio of 1.06 and a beta of 0.69. The firm has a fifty day simple moving average of $33.47 and a 200 day simple moving average of $36.94.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS 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 business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm posted $0.95 EPS. The business's revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts predict that Rogers Communications Inc. will post 3.56 EPS for the current year.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $0.3611 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Monday, December 9th. Rogers Communications's payout ratio is currently 68.78%.

Institutional Trading of Rogers Communications

Several large investors have recently added to or reduced their stakes in RCI. 1832 Asset Management L.P. raised its stake in shares of Rogers Communications by 2.6% during the second quarter. 1832 Asset Management L.P. now owns 11,501,927 shares of the Wireless communications provider's stock valued at $425,341,000 after purchasing an additional 288,614 shares during the period. Mackenzie Financial Corp grew its holdings in Rogers Communications by 10.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider's stock valued at $390,738,000 after purchasing an additional 974,937 shares in the last quarter. Toronto Dominion Bank increased its stake in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider's stock worth $233,099,000 after buying an additional 2,206,690 shares during the period. National Bank of Canada FI lifted its holdings in 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 worth $250,886,000 after buying an additional 977,924 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Rogers Communications by 371.0% in 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 in the last quarter. 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.