Royal Bank of Canada Cuts Rogers Communications (TSE:RCI.B) Price Target to C$54.00

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

RCI.B has been the subject of a number of other research reports. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating and reduced their price objective for the company from C$42.00 to C$41.00 in a research report on Monday. 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 report on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Bank of America cut their price objective on shares of Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Finally, UBS Group decreased their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$55.77.

Rogers Communications Stock Up 0.1 %

RCI.B traded up C$0.03 during midday trading 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. Rogers Communications has a 1 year low of C$33.02 and a 1 year high of C$56.55. The stock’s 50-day moving average is C$39.31 and its 200-day moving average is C$45.51. The firm has a market capitalization of C$14.40 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.