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

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$36.03 and last traded at C$36.06, with a volume of 933502 shares. The stock had previously closed at C$38.43.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RCI.B shares. National Bankshares decreased their target price on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada cut their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Bank of America decreased their price target on shares of Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Scotiabank reduced their price objective on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group lowered their target price on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$60.31.

Rogers Communications Stock Performance

The stock has a 50 day simple moving average of C$40.07 and a 200 day simple moving average of C$46.45. The stock has a market cap of C$15.13 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

About Rogers Communications

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.