Rogers Communications (TSE:RCI.B) Price Target Lowered to C$53.00 at National Bankshares

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target cut by National Bankshares from C$54.00 to C$53.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 47.47% from the stock’s previous close.

A number of other brokerages have also issued reports on RCI.B. Scotiabank dropped their price objective on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. TD Securities lifted their price objective on Rogers Communications from C$63.00 to C$64.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Finally, Bank of America reduced their price target on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$59.43.

Rogers Communications Trading Down 6.5 %

Rogers Communications stock traded down C$2.49 during trading hours on Tuesday, hitting C$35.94. The company had a trading volume of 3,485,880 shares, compared to its average volume of 2,088,969. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The firm has a market cap of C$15.15 billion, a P/E ratio of 22.05, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a 50-day moving average price of C$40.07 and a two-hundred day moving average price of C$46.45. Rogers Communications has a 1 year low of C$35.57 and a 1 year high of C$56.55.

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.