Rogers Communications (TSE:RCI.B) Price Target Cut to C$63.00 by Analysts at JPMorgan Chase & Co.

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price reduced by investment analysts at JPMorgan Chase & Co. from C$65.00 to C$63.00 in a report released on Wednesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.73% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Desjardins reduced their price target on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. Morgan Stanley lifted their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Canadian Imperial Bank of Commerce increased their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Scotiabank decreased their price target on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Finally, TD Securities increased their price objective on shares of Rogers Communications from C$64.00 to C$67.00 and gave the company a “buy” rating in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$57.34.

Rogers Communications Price Performance

TSE:RCI.B traded down C$0.44 during trading hours on Wednesday, reaching C$53.06. 568,289 shares of the company were exchanged, compared to its average volume of 1,677,352. 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 firm has a market cap of C$28.66 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.27. The stock’s 50-day moving average is C$52.66 and its 200-day moving average is C$51.96.

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. 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.