Rogers Communications (TSE:RCI.B) Hits New 12-Month Low – What’s Next?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) hit a new 52-week low on Tuesday. The company traded as low as C$42.75 and last traded at C$42.87, with a volume of 630293 shares traded. The stock had previously closed at C$43.30.

Analysts Set New Price Targets

RCI.B has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of Rogers Communications from C$50.00 to C$42.00 in a research note on Tuesday, July 21st. Scotiabank boosted their price objective on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 7th. National Bank Financial cut their target price on Rogers Communications from C$62.00 to C$59.00 in a research report on Wednesday, September 30th. Canaccord Genuity Group decreased their target price on Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price for the company in a report on Monday, September 14th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of C$58.77.

Rogers Communications Trading Down 1.1%

The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The firm has a 50 day moving average price of C$48.81 and a 200 day moving average price of C$49.37. The stock has a market capitalization of C$23.14 billion, a PE ratio of 3.76, a P/E/G ratio of 0.32 and a beta of 1.09.

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.