Rogers Communications (TSE:RCI.B) Hits New 52-Week Low – Here’s Why

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as C$44.07 and last traded at C$44.27, with a volume of 53754 shares. The stock had previously closed at C$44.57.

Analyst Upgrades and Downgrades

RCI.B has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price target on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a report on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price on the stock in a report on Monday, September 14th. TD boosted their target price on shares of Rogers Communications from C$60.00 to C$65.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley cut their target price on shares of Rogers Communications from C$50.00 to C$42.00 in a research note on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a 50-day simple moving average of C$49.11 and a 200 day simple moving average of C$49.71. The stock has a market capitalization of C$23.78 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97.

About Rogers Communications

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.