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

Shares of Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) dropped 3.5% during trading on Tuesday . The company traded as low as $28.29 and last traded at $28.35. Approximately 182,079 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 899,890 shares. The stock had previously closed at $29.37.

Analysts Set New Price Targets

Several analysts have weighed in on RCI shares. BMO Capital Markets boosted their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Bank of America lowered shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. Finally, TD Securities increased their price target on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.91 and a beta of 0.69. The stock’s fifty day moving average is $33.14 and its 200-day moving average is $36.82.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the firm posted $0.95 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts forecast that Rogers Communications Inc. will post 3.52 EPS for the current year.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $0.3611 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.08%. Rogers Communications’s payout ratio is 68.78%.

Institutional Investors Weigh In On Rogers Communications

Hedge funds have recently modified their holdings of the business. Cromwell Holdings LLC bought a new stake in Rogers Communications during the 3rd quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Rogers Communications by 110.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 522 shares during the period. Grove Bank & Trust increased its position in shares of Rogers Communications by 41.0% during the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock worth $42,000 after acquiring an additional 302 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Rogers Communications during the second quarter worth $55,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Rogers Communications during the third quarter worth $203,000. Institutional investors and hedge funds 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.