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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Rogers Communications from C$50.00 to C$42.00 in a research note on Tuesday, July 21st. National Bank Financial dropped their price target on shares of Rogers Communications from C$62.00 to C$59.00 in a research report on Wednesday, September 30th. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 price objective on the stock in a research note on Monday, September 14th. Royal Bank Of Canada set a C$60.00 target price on shares of Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Canaccord Genuity Group cut their target price on shares of 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. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$58.77.

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Rogers Communications Trading Down 1.1%

The firm’s 50-day simple moving average is C$48.81 and its 200 day simple moving average is C$49.37. 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 firm has a market capitalization of C$23.14 billion, a price-to-earnings ratio of 3.76, a P/E/G ratio of 0.32 and a beta of 1.09.

About Rogers Communications

(Get Free Report)

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.

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