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 target price trimmed by Desjardins from C$55.00 to C$54.50 in a research report report published on Tuesday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank cut their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. JPMorgan Chase & Co. cut their price target on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. TD Securities downgraded 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 report on Thursday, April 2nd. Canadian Imperial Bank of Commerce upped their price target on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Finally, Morgan Stanley upped their price target on Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$56.16.

Rogers Communications Price Performance

Shares of RCI.B opened at C$46.19 on Tuesday. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.27. The firm’s 50 day moving average price is C$52.50 and its 200 day moving average price is C$51.96. The company has a market cap of C$24.95 billion, a P/E ratio of 3.63, a PEG ratio of 0.32 and a beta of 0.96. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.