Rogers Communications (TSE:RCI.B) Price Target Cut to C$54.00 by Analysts at Royal Bank of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price lowered by analysts at Royal Bank of Canada from C$57.00 to C$54.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 58.17% from the company’s current price.

Several other research analysts have also recently weighed in on RCI.B. JPMorgan Chase & Co. dropped their price target on shares of Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. TD Securities lowered their target price on Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. 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 report on Tuesday, April 1st. UBS Group lowered their price objective on Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Finally, Scotiabank lowered shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$58.00 to C$50.00 in a report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$55.77.

Rogers Communications Stock Performance

Shares of RCI.B traded up C$0.03 on Wednesday, reaching C$34.14. The company’s stock had a trading volume of 1,194,605 shares, compared to its average volume of 2,238,280. The stock’s 50 day simple moving average is C$39.31 and its two-hundred day simple moving average is C$45.51. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock has a market capitalization of C$14.40 billion, a P/E ratio of 20.94, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 12-month low of C$33.02 and a 12-month high of C$56.55.

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.