Rogers Communications (TSE:RCI.B) Price Target Cut to C$50.00 by Analysts at Bank of America

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective cut by Bank of America from C$55.00 to C$50.00 in a research report report published on Monday morning,BayStreet.CA reports.

A number of other brokerages also recently issued reports on RCI.B. National Bankshares reduced their price target on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada reduced their price objective on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays downgraded shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. Canaccord Genuity Group dropped their price target on Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Finally, Scotiabank reduced their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$60.23.

Rogers Communications Stock Performance

TSE:RCI.B opened at C$41.29 on Monday. The firm has a market cap of C$17.41 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1-year low of C$38.97 and a 1-year high of C$63.34. The firm’s fifty day moving average price is C$44.48 and its 200 day moving average price is C$50.02.

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.