Desjardins Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price cut by equities researchers at Desjardins from C$57.00 to C$55.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective would suggest a potential upside of 11.07% from the company’s previous close.

Several other equities analysts have also weighed in on RCI.B. Canaccord Genuity Group upped their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, October 24th. National Bankshares raised their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Morgan Stanley upped their target price on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Barclays lifted their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Finally, CIBC boosted their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$56.92.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$49.52 on Monday. The firm has a 50 day moving average of C$52.07 and a 200-day moving average of C$49.84. The company has a market cap of C$26.75 billion, a price-to-earnings ratio of 3.97, a price-to-earnings-growth 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. Rogers Communications has a 52 week low of C$32.42 and a 52 week 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.