Rogers Communications (TSE:RCI.B) Hits New 12-Month Low Following Analyst Downgrade

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI's share price reached a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from C$57.00 to C$53.00. JPMorgan Chase & Co. currently has an overweight 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 analysts have also recently issued reports about the company. National Bankshares cut their price objective on Rogers Communications from C$54.00 to C$53.00 and set an "outperform" rating for the company in a research report on Tuesday. UBS Group cut their price target on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Rogers Communications from C$66.00 to C$61.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. Canaccord Genuity Group cut their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Finally, Barclays downgraded shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Rogers Communications has a consensus rating of "Moderate Buy" and a consensus target price of C$56.69.

Rogers Communications Price Performance

The stock has a market capitalization of C$15.49 billion, a P/E ratio of 22.53, a PEG ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The business has a fifty day simple moving average of C$39.74 and a 200-day simple moving average of C$45.99.

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.