Rogers Communications (NYSE:RCI) Reaches New 52-Week Low at $44.07

Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) shares reached a new 52-week low on Thursday . The company traded as low as $44.07 and last traded at $44.09, with a volume of 17367 shares. The stock had previously closed at $44.58.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Securities lifted their price target on shares of Rogers Communications from C$78.00 to C$80.00 in a research note on Thursday, July 28th. BMO Capital Markets decreased their price target on shares of Rogers Communications from C$75.00 to C$72.00 in a research note on Monday, July 11th. Desjardins decreased their price target on shares of Rogers Communications from C$80.00 to C$79.00 in a research note on Friday, July 29th. Canaccord Genuity Group cut their price objective on Rogers Communications from C$69.00 to C$68.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Finally, National Bank Financial cut their price objective on Rogers Communications from C$83.00 to C$80.00 in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.67.

Rogers Communications Price Performance

The stock has a fifty day moving average of $47.31 and a 200-day moving average of $51.24. The company has a quick ratio of 2.43, a current ratio of 2.49 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $21.85 billion, a P/E ratio of 16.71, a PEG ratio of 2.48 and a beta of 0.44.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a $0.3884 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.59%. Rogers Communications’s dividend payout ratio is 61.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RCI. Janney Montgomery Scott LLC raised its holdings in shares of Rogers Communications by 28.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,388 shares of the Wireless communications provider’s stock valued at $304,000 after buying an additional 1,408 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in Rogers Communications in the fourth quarter worth about $291,000. Raymond James Trust N.A. acquired a new stake in Rogers Communications in the fourth quarter worth about $253,000. DekaBank Deutsche Girozentrale increased its position in Rogers Communications by 2.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,211,313 shares of the Wireless communications provider’s stock worth $56,888,000 after purchasing an additional 28,474 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in Rogers Communications by 25.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 514 shares during the period. 41.73% of the stock is owned by institutional investors.

Rogers Communications Company Profile

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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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

Further Reading

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