Rogers Communications (TSE:RCI.B) Reaches New 1-Year Low – Time to Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as C$42.25 and last traded at C$42.67, with a volume of 220515 shares changing hands. The stock had previously closed at C$43.48.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. National Bankshares dropped their price target 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. BMO Capital Markets raised their price objective on Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday, September 19th. Royal Bank of Canada lowered 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, Desjardins cut their target price on 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$63.25.

Rogers Communications Trading Down 3.8 %

The firm has a market capitalization of C$17.64 billion, a PE ratio of 25.66, a P/E/G ratio of 0.32 and a beta of 0.62. The firm has a 50 day simple moving average of C$47.65 and a 200 day simple moving average of C$51.18. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.