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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lowered by research analysts at Morgan Stanley from C$50.00 to C$42.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Morgan Stanley’s price target would indicate a potential downside of 9.40% from the company’s previous close.

Several other research firms have also issued reports on RCI.B. Desjardins reduced their price target on shares of Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Royal Bank Of Canada lowered their price objective on shares of Rogers Communications from C$63.00 to C$60.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce upped their target price on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research note on Thursday, April 23rd. Raymond James Financial set a C$68.00 target price on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and an average price target of C$58.65.

Rogers Communications Trading Down 4.6%

Shares of Rogers Communications stock opened at C$46.36 on Tuesday. 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 12-month low of C$44.21 and a 12-month high of C$56.27. The company has a market capitalization of C$25.04 billion, a price-to-earnings ratio of 3.56, a PEG ratio of 0.32 and a beta of 0.95. The firm’s 50-day moving average price is C$49.99 and its two-hundred day moving average price is C$50.61.

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.