Rogers Communications (TSE:RCI.B) Price Target Lowered to C$55.00 at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price cut by research analysts at Desjardins from C$57.00 to C$55.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price indicates a potential upside of 9.32% from the stock’s current price.

Several other research analysts have also weighed in on RCI.B. TD Securities raised their price objective on shares of Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, October 24th. CIBC lifted their target price on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Canaccord Genuity Group raised their price objective on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Morgan Stanley increased their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Finally, Scotiabank lifted their target price on Rogers Communications from C$55.75 to C$57.75 and gave the company a “sector perform” rating in a research note on Sunday, October 26th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$56.92.

Rogers Communications Stock Down 0.5%

Shares of RCI.B traded down C$0.25 during trading on Monday, reaching C$50.31. The company’s stock had a trading volume of 343,926 shares, compared to its average volume of 1,164,453. The company has a market cap of C$27.18 billion, a price-to-earnings ratio of 4.03, a P/E/G ratio of 0.32 and a beta of 1.03. 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 company has a fifty day moving average of C$52.23 and a two-hundred day moving average of C$49.70. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.