Rogers Communications (TSE:RCI.B) Reaches New 52-Week Low – Should You Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low 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 recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Desjardins cut their price target on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, November 28th. Scotiabank decreased their price objective on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group dropped their price objective on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Finally, TD Securities reduced their price objective on shares of Rogers Communications from C$71.00 to C$65.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$63.25.

Rogers Communications Stock Performance

The business’s fifty day simple moving average is C$47.65 and its 200-day simple moving average is C$51.18. The firm has a market cap of C$17.64 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

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.