JPMorgan Chase & Co. Lowers Rogers Communications (TSE:RCI.B) Price Target to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target dropped by stock 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 target price suggests a potential upside of 29.20% from the company’s current price.

RCI.B has been the topic of several other reports. TD Securities boosted their target price on shares of Rogers Communications from C$64.00 to C$67.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Desjardins cut 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 report on Monday, January 12th. Canadian Imperial Bank of Commerce raised their price objective 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. Canaccord Genuity Group boosted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Scotiabank lowered their target price 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 report on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$56.34.

Rogers Communications Stock Down 7.9%

Rogers Communications stock opened at C$48.76 on Wednesday. The stock’s 50 day moving average price is C$52.65 and its 200 day moving average price is C$51.94. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.27. The company has a market cap of C$26.34 billion, a PE ratio of 3.83, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.