National Bank Financial Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price reduced by investment analysts at National Bank Financial from C$63.00 to C$62.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 34.43% from the stock’s current price.

A number of other equities analysts have also issued reports on RCI.B. Scotiabank upped their target price on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a research report on Tuesday. TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Canadian Imperial Bank of Commerce upped their price target on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. Desjardins set a C$59.00 price objective on Rogers Communications and gave the stock a “hold” rating in a research note on Thursday, June 25th. Finally, TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and boosted their target price for the company from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average target price of C$58.88.

Rogers Communications Stock Up 3.1%

TSE:RCI.B traded up C$1.38 during trading hours on Tuesday, hitting C$46.12. The stock had a trading volume of 1,238,890 shares, compared to its average volume of 1,929,143. 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 1-year low of C$43.39 and a 1-year high of C$56.27. The business has a 50 day simple moving average of C$50.68 and a two-hundred day simple moving average of C$50.97. The company has a market cap of C$24.92 billion, a PE ratio of 3.54, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95.

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.