Rogers Communications (TSE:RCI.B) Reaches New 52-Week Low on Analyst Downgrade

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low during mid-day trading on Monday after Bank of America lowered their price target on the stock from C$55.00 to C$50.00. The company traded as low as C$38.97 and last traded at C$39.77, with a volume of 382131 shares traded. The stock had previously closed at C$39.92.

Several other equities analysts have also recently issued reports on RCI.B. Scotiabank reduced their price objective on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. National Bankshares lowered their price objective on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Desjardins decreased their target price on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a research note on Thursday, November 28th. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from C$63.00 to C$39.00 in a research report on Thursday. Finally, TD Securities lowered their price objective on Rogers Communications from C$65.00 to C$63.00 and set a “buy” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$60.23.

Rogers Communications Stock Down 0.1 %

The stock has a market cap of C$16.82 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm has a 50 day simple moving average of C$44.88 and a two-hundred day simple moving average of C$50.16. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.