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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target decreased by investment analysts at Scotiabank from C$58.00 to C$57.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 14.06% from the stock’s current price.

A number of other analysts have also recently weighed in on RCI.B. Barclays increased their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Desjardins cut their price objective on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, January 12th. Canaccord Genuity Group boosted their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. TD Securities upped their target price on shares of Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus target price of C$56.90.

Rogers Communications Stock Performance

TSE RCI.B traded up C$0.65 during trading hours on Tuesday, hitting C$50.63. The company had a trading volume of 2,239,850 shares, compared to its average volume of 1,339,709. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.15. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a market cap of C$27.35 billion, a PE ratio of 4.06, a price-to-earnings-growth ratio of 0.32 and a beta of 1.03. The business has a 50 day moving average of C$51.86 and a 200-day moving average of C$50.06.

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.