Royal Bank Of Canada Cuts Rogers Communications (TSE:RCI.B) Price Target to C$60.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target dropped by investment analysts at Royal Bank Of Canada from C$63.00 to C$60.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 28.62% from the stock’s previous close.

Other analysts have also issued reports about the company. Desjardins set a C$59.00 price objective on Rogers Communications and gave the company a “hold” rating in a report on Thursday, June 25th. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Canaccord Genuity Group lifted their target price on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Finally, National Bank Financial decreased their price objective on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$58.62.

Rogers Communications Stock Up 0.2%

Shares of RCI.B traded up C$0.11 during midday trading on Friday, hitting C$46.65. The company had a trading volume of 615,729 shares, compared to its average volume of 1,940,056. The stock has a market cap of C$25.20 billion, a price-to-earnings ratio of 3.58, a PEG ratio of 0.32 and a beta of 0.95. The company’s 50 day moving average price is C$50.37 and its 200 day moving average price is C$50.84. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27.

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.