Rogers Communications (TSE:RCI.B) Given New C$57.75 Price Target at Scotiabank

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price cut by Scotiabank from C$58.00 to C$57.75 in a report published on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

RCI.B has been the topic of several other research reports. Canaccord Genuity Group raised their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Desjardins dropped their price objective on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. TD Securities lifted 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 report on Friday, October 24th. CIBC upped their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Barclays raised their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$56.90.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$50.55 on Tuesday. The company has a market cap of C$27.31 billion, a price-to-earnings ratio of 4.05, a price-to-earnings-growth ratio of 0.32 and a beta of 1.03. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.15. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock’s 50-day moving average is C$51.80 and its 200-day moving average is C$50.11.

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. 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.