Desjardins Cuts Rogers Communications (TSE:RCI.B) Price Target to C$55.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price lowered by Desjardins from C$57.00 to C$55.00 in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other equities analysts also recently commented on the company. Scotiabank raised their target price on Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a research report on Sunday, October 26th. JPMorgan Chase & Co. increased their price objective on Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. TD Securities boosted 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. National Bankshares upped their target price on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, CIBC lifted 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 report on Tuesday, December 9th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$56.92.

Rogers Communications Stock Up 1.2%

TSE RCI.B opened at C$50.09 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock’s 50 day moving average is C$52.02 and its two-hundred day moving average is C$49.85. The company has a market capitalization of C$27.06 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 0.32 and a beta of 1.03. Rogers Communications has a 1-year low of C$32.42 and a 1-year 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.