Rogers Communication (NYSE:RCI) Sets New 1-Year Low - Here's Why

Key Points

• Rogers Communication shares hit a new 52-week low, trading as low as $30.07, below their 50-day and 200-day moving averages.
• Analyst sentiment remains generally positive, with six Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $36.00 price target.
• The company beat quarterly earnings and revenue expectations, while maintaining an annualized dividend of C$2.00 per share, representing a 6.6% yield.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B's stock price reached a new 52-week low 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCI. Scotiabank reaffirmed an "outperform" rating on shares of Rogers Communication in a research note on Tuesday, July 7th. TD Securities reissued a "buy" rating on shares of Rogers Communication in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Rogers Communication from a "hold" rating to a "sell" rating in a research report on Saturday. Desjardins raised shares of Rogers Communication from a "hold" rating to a "buy" rating in a research note on Monday, September 14th. Finally, Raymond James Financial started coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They set an "outperform" rating for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Rogers Communication Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.54. The firm has a market cap of $16.26 billion, a P/E ratio of 3.63, a P/E/G ratio of 3.86 and a beta of 0.65. The business has a fifty day simple moving average of $34.97 and a 200-day simple moving average of $35.47.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings data on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.91 billion. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, sell-side analysts predict that Rogers Communication, Inc. will post 3.26 EPS for the current fiscal year.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th were given a dividend of C$0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Tuesday, September 8th. Rogers Communication's payout ratio is presently 17.39%.

Institutional Investors Weigh In On Rogers Communication

A number of hedge funds have recently made changes to their positions in RCI. EverSource Wealth Advisors LLC increased its holdings in shares of Rogers Communication by 15.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,107 shares of the Wireless communications provider's stock worth $119,000 after buying an additional 418 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Rogers Communication by 1,314.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,337 shares of the Wireless communications provider's stock valued at $126,000 after purchasing an additional 3,101 shares during the period. Parallel Advisors LLC raised its position in Rogers Communication by 10.2% during the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock valued at $130,000 after purchasing an additional 312 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in shares of Rogers Communication in the 1st quarter valued at approximately $180,000. Finally, Versant Capital Management Inc lifted its stake in shares of Rogers Communication by 8.2% in the 3rd quarter. Versant Capital Management Inc now owns 6,326 shares of the Wireless communications provider's stock valued at $195,000 after purchasing an additional 480 shares during the last quarter. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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