Rogers Communications (TSE:RCI.B) Given New C$53.00 Price Target at National Bankshares

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by equities researchers at National Bankshares from C$54.00 to C$53.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 47.47% from the stock’s previous close.

Other research analysts have also issued reports about the company. Barclays lowered Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. Royal Bank of Canada cut their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Scotiabank decreased their price objective on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Canaccord Genuity Group cut their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Finally, Bank of America lowered their price target on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$59.43.

Rogers Communications Stock Performance

Shares of TSE:RCI.B traded down C$2.49 on Tuesday, hitting C$35.94. 3,485,880 shares of the company were exchanged, compared to its average volume of 2,088,969. 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 price is C$40.07 and its 200 day moving average price is C$46.45. Rogers Communications has a 1-year low of C$35.57 and a 1-year high of C$56.55. The firm has a market capitalization of C$15.15 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62.

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.