Rogers Communications (TSE:RCI.B) Sets New 12-Month Low – Time to Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s share price hit a new 52-week low on Monday . The stock 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 Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Royal Bank of Canada cut their target price on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group reduced their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Finally, Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating and dropped their price target for the company from C$42.00 to C$41.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$55.77.

Rogers Communications Price 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 stock’s 50 day moving average price is C$39.31 and its two-hundred day moving average price is C$45.51. The firm has a market capitalization of C$14.44 billion, a price-to-earnings ratio of 21.01, a PEG 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.