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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price reduced by Royal Bank Of Canada from C$63.00 to C$60.00 in a report issued on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on RCI.B. Scotiabank raised their price objective on shares of Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a report on Tuesday. TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Desjardins set a C$59.00 price target on Rogers Communications and gave the company a “hold” rating in a research report on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce increased their price target on shares of 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. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.62.

Rogers Communications Trading Up 0.1%

Shares of RCI.B traded up C$0.04 during midday trading on Friday, hitting C$46.58. 1,374,362 shares of the stock were exchanged, compared to its average volume of 1,946,175. The stock has a fifty day simple moving average of C$50.31 and a 200 day simple moving average of C$50.81. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27. The firm has a market cap of C$25.16 billion, a P/E ratio of 3.57, a P/E/G 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.