Rogers Communications (TSE:RCI.B) Given New C$63.00 Price Target at JPMorgan Chase & Co.

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by JPMorgan Chase & Co. from C$65.00 to C$63.00 in a research note released on Wednesday,BayStreet.CA reports.

RCI.B has been the topic of several other reports. Canaccord Genuity Group lifted their target price on shares of 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. Morgan Stanley raised their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Desjardins lowered 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 note on Monday, January 12th. Finally, Scotiabank dropped their target price on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$57.34.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$52.97 on Wednesday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.27. The stock has a 50 day moving average price of C$52.70 and a two-hundred day moving average price of C$51.97. The company has a market capitalization of C$28.62 billion, a P/E ratio of 4.16, a PEG ratio of 0.32 and a beta of 1.13.

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.