Rogers Communications (TSE:RCI.B) Reaches New 1-Year Low Following Analyst Downgrade

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

RCI.B has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price objective on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Desjardins lowered their price objective on shares of Rogers Communications from C$68.00 to C$61.00 and set a "buy" rating on the stock in a research note on Thursday, November 28th. Barclays lowered shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and cut their target price for the company from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Royal Bank of Canada reduced their price objective on 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, National Bankshares cut their target price on Rogers Communications from C$62.00 to C$54.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rogers Communications presently has an average rating of "Moderate Buy" and a consensus target price of C$60.23.

Rogers Communications Stock Performance

The firm has a market cap of C$16.24 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm's 50 day moving average is C$44.31 and its 200-day moving average is C$49.96. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.