Rogers Communications (TSE:RCI.B) Reaches New 52-Week Low – What’s Next?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low during trading on Monday . The stock traded as low as C$35.08 and last traded at C$35.81, with a volume of 170707 shares. The stock had previously closed at C$36.73.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RCI.B shares. Scotiabank lowered shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$58.00 to C$50.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating on the stock in a research report on Thursday. Canaccord Genuity Group raised shares of Rogers Communications from a “hold” rating to a “buy” rating and dropped their price target for the stock from C$42.00 to C$41.00 in a research report on Monday. Royal Bank of Canada decreased their price objective on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Bank of America cut their target price on Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average target price of C$56.31.

Rogers Communications Stock Performance

The firm has a market capitalization of C$14.86 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The stock has a 50-day moving average of C$39.74 and a 200 day moving average of C$45.93. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

Rogers Communications Company Profile

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.