Desjardins Cuts Rogers Communications (TSE:RCI.B) Price Target to C$58.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target reduced by Desjardins from C$59.00 to C$58.00 in a report released on Wednesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other research analysts have also issued reports on the stock. National Bank Financial decreased their price target on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and cut their price objective for the company from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. JPMorgan Chase & Co. raised their price objective on Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Canaccord Genuity Group lifted their target price on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce boosted their target price on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$59.27.

Rogers Communications Stock Down 0.6%

RCI.B stock opened at C$48.58 on Wednesday. Rogers Communications has a 12 month low of C$44.21 and a 12 month high of C$56.27. The firm has a market cap of C$26.24 billion, a PE ratio of 3.73, a P/E/G ratio of 0.32 and a beta of 0.95. The firm has a 50 day simple moving average of C$50.09 and a 200 day simple moving average of C$50.70. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.