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

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) shares reached a new 52-week low during mid-day 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.

Wall Street Analysts Forecast Growth

RCI.B has been the topic of a number of recent research reports. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating and lowered their target price for the company from C$42.00 to C$41.00 in a research note on Monday. Scotiabank cut 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 research note on Tuesday, April 1st. Barclays lowered shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Royal Bank of Canada reduced their price objective 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. Finally, Bank of America reduced their price target on Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$56.31.

Rogers Communications Price Performance

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

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.