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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCI.B. Canaccord Genuity Group upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and cut their target price for the company from C$42.00 to C$41.00 in a research note on Monday. UBS Group decreased their target price on Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Royal Bank of Canada dropped their price target on Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Wednesday. Scotiabank downgraded shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$58.00 to C$50.00 in a report on Tuesday, April 1st. Finally, Bank of America dropped their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$55.77.

Rogers Communications Stock Performance

The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The company has a market cap of C$14.44 billion, a P/E ratio of 21.01, a PEG ratio of 0.32 and a beta of 0.62. The stock has a fifty day moving average price of C$39.31 and a two-hundred day moving average price of C$45.51.

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.