Rogers Communications (TSE:RCI.B) Hits New 12-Month Low - Should You Sell?

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI reached 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 changing hands. The stock had previously closed at C$36.73.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RCI.B. Royal Bank of Canada reduced their target price on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a report on Wednesday. TD Securities decreased their price objective on Rogers Communications from C$64.00 to C$62.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Scotiabank downgraded Rogers Communications from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from C$58.00 to C$50.00 in a report on Tuesday, April 1st. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating and reduced their price target for the stock from C$42.00 to C$41.00 in a research report on Monday, April 7th. Finally, National Bankshares lowered their price objective on shares of Rogers Communications from C$54.00 to C$53.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rogers Communications has an average rating of "Moderate Buy" and a consensus target price of C$55.77.

Rogers Communications Price Performance

The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The company's fifty day moving average price is C$38.80 and its two-hundred day moving average price is C$45.06. The company has a market cap of C$14.32 billion, a price-to-earnings ratio of 20.84, 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.