Rogers Communications (TSE:RCI.B) Price Target Cut to C$54.50 by Analysts at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by investment analysts at Desjardins from C$55.00 to C$54.50 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ target price would suggest a potential upside of 16.48% from the company’s current price.

Other research analysts have also recently issued research reports about the company. TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and cut their price target for the stock from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Canaccord Genuity Group boosted their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. cut their price target on Rogers Communications from C$65.00 to C$63.00 in a research note on Wednesday, April 1st. Morgan Stanley boosted their price target on Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$56.16.

Rogers Communications Stock Down 2.2%

Shares of RCI.B traded down C$1.05 during midday trading on Tuesday, reaching C$46.79. 982,400 shares of the company were exchanged, compared to its average volume of 1,746,156. The stock has a 50-day moving average price of C$52.57 and a 200-day moving average price of C$51.97. The company has a market cap of C$25.28 billion, a price-to-earnings ratio of 3.67, a P/E/G ratio of 0.32 and a beta of 0.96. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.