Rogers Communications (TSE:RCI.B) Price Target Cut to C$58.00 by Analysts at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price cut by Desjardins from C$59.00 to C$58.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Canadian Imperial Bank of Commerce increased their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Canaccord Genuity Group raised their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$58.54.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$47.56 on Wednesday. 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 business’s 50 day moving average price is C$50.15 and its 200-day moving average price is C$50.73. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The stock has a market cap of C$25.69 billion, a P/E ratio of 3.65, a P/E/G ratio of 0.32 and a beta of 0.95.

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.