Rogers Communications (TSE:RCI.B) Cut to Sector Perform at Scotiabank

Scotiabank lowered shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from an outperform rating to a sector perform rating in a research report report published on Tuesday,BayStreet.CA reports. Scotiabank currently has C$50.00 price target on the stock, down from their prior price target of C$58.00.

A number of other research firms also recently issued reports on RCI.B. National Bankshares cut their price objective on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays downgraded shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Royal Bank of Canada decreased their price objective on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Bank of America dropped their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group dropped their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$58.14.

Rogers Communications Trading Up 1.4 %

TSE RCI.B opened at C$36.71 on Tuesday. Rogers Communications has a 52 week low of C$35.51 and a 52 week high of C$56.55. The business has a 50 day moving average price of C$39.82 and a 200-day moving average price of C$46.06. 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 company has a market cap of C$15.48 billion, a price-to-earnings ratio of 22.52, a P/E/G ratio of 0.32 and a beta of 0.62.

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.