Morgan Stanley Cuts Rogers Communications (TSE:RCI.B) Price Target to C$42.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price trimmed by Morgan Stanley from C$50.00 to C$42.00 in a report published on Tuesday,BayStreet.CA reports.

Several other analysts have also weighed in on RCI.B. Desjardins lowered their price objective on Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. National Bank Financial reduced their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Royal Bank Of Canada decreased their target price on Rogers Communications from C$63.00 to C$60.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Finally, Raymond James Financial set a C$68.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$59.00.

Rogers Communications Price Performance

Shares of RCI.B stock opened at C$46.00 on Tuesday. The firm has a fifty day moving average of C$49.93 and a two-hundred day moving average of C$50.57. The firm has a market cap of C$24.85 billion, a P/E ratio of 3.53, a P/E/G ratio of 0.32 and a beta of 0.95. Rogers Communications has a 1-year low of C$44.21 and a 1-year high of C$56.27. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.