UBS Group Cuts Rogers Communications (TSE:RCI.B) Price Target to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective cut by equities research analysts at UBS Group from C$66.00 to C$63.00 in a note issued to investors on Tuesday,BayStreet.CA reports. UBS Group’s price target would indicate a potential upside of 75.29% from the stock’s current price.

Several other research analysts also recently commented on RCI.B. Royal Bank of Canada reduced their target price on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. TD Securities lifted their target price on shares of Rogers Communications from C$63.00 to C$64.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Scotiabank cut Rogers Communications from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$58.00 to C$50.00 in a report on Tuesday. Canaccord Genuity Group lowered their target price on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Finally, National Bankshares reduced their price target on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Rogers Communications has an average rating of “Moderate Buy” and a consensus target price of C$59.43.

Rogers Communications Stock Down 6.5 %

Shares of RCI.B traded down C$2.49 during mid-day trading on Tuesday, hitting C$35.94. 3,485,880 shares of the company’s stock were exchanged, compared to its average volume of 2,088,969. 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 52 week low of C$35.57 and a 52 week high of C$56.55. The company has a 50-day simple moving average of C$40.07 and a 200 day simple moving average of C$46.45. The company has a market cap of C$15.15 billion, a PE ratio of 22.05, a P/E/G ratio of 0.32 and a beta of 0.62.

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.