Rogers Communications (TSE:RCI.B) Given New C$42.00 Price Target at Morgan Stanley

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lowered by Morgan Stanley from C$50.00 to C$42.00 in a research report released on Tuesday morning,BayStreet.CA reports.

A number of other brokerages have also recently commented on RCI.B. Raymond James Financial set a C$68.00 price objective on Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 16th. National Bank Financial lowered their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Canaccord Genuity Group raised their target price on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Finally, TD raised Rogers Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$58.65.

Rogers Communications Stock Down 0.8%

Shares of Rogers Communications stock opened at C$48.61 on Tuesday. The company has a fifty day moving average price of C$50.05 and a 200 day moving average price of C$50.65. 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 has a twelve month low of C$44.21 and a twelve month high of C$56.27. The stock has a market cap of C$26.26 billion, a price-to-earnings ratio of 3.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95.

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.