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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low on Tuesday after TD Securities lowered their price target on the stock from C$64.00 to C$62.00. TD Securities currently has a buy rating on the stock. Rogers Communications traded as low as C$36.03 and last traded at C$36.06, with a volume of 933502 shares trading hands. The stock had previously closed at C$38.43.

Other equities analysts have also recently issued reports about the stock. Bank of America decreased their price objective on shares of Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Scotiabank cut Rogers Communications from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$58.00 to C$50.00 in a research note on Tuesday. Canaccord Genuity Group lowered their price objective on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. UBS Group dropped their price objective on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Finally, Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$59.29.

Rogers Communications Stock Up 0.1 %

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 fifty day simple moving average is C$39.90 and its 200-day simple moving average is C$46.18. The stock has a market cap of C$15.26 billion, a P/E ratio of 22.21, 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.