Rogers Communication (NYSE:RCI) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $35.22 and traded as high as $36.57. Rogers Communication shares last traded at $35.8590, with a volume of 1,469,169 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RCI. Weiss Ratings upgraded shares of Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Scotiabank reiterated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Raymond James Financial assumed coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Desjardins upgraded Rogers Communication from a “hold” rating to a “buy” rating in a research note on Monday. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Rogers Communication Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. The stock has a market cap of $18.98 billion, a P/E ratio of 4.24, a PEG ratio of 4.45 and a beta of 0.66. The business’s fifty day moving average price is $35.28 and its 200 day moving average price is $36.16.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Rogers Communication, Inc. will post 3.29 EPS for the current fiscal year.

Rogers Communication Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 8th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 5.7%. Rogers Communication’s payout ratio is currently 17.39%.

Hedge Funds Weigh In On Rogers Communication

Large investors have recently modified their holdings of the company. Cidel Asset Management Inc. lifted its stake in shares of Rogers Communication by 49.1% in the second quarter. Cidel Asset Management Inc. now owns 16,693 shares of the Wireless communications provider’s stock valued at $543,000 after buying an additional 5,500 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Rogers Communication by 2.5% in the second quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock valued at $704,000 after acquiring an additional 524 shares in the last quarter. Nykredit A S bought a new position in Rogers Communication in the 2nd quarter valued at $1,847,000. Public Employees Retirement System of Ohio purchased a new stake in Rogers Communication during the second quarter worth about $1,395,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Rogers Communication during the 1st quarter worth approximately $483,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.