Rogers Communications (RCI.B) Given New C$74.00 Price Target at Royal Bank of Canada
Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective dropped by analysts at Royal Bank of Canada from C$76.00 to C$74.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 11.06% from the stock’s current price.
A number of other research analysts have also recently weighed in on the company. National Bank Financial raised Rogers Communications from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$71.00 to C$78.00 in a research report on Friday, January 4th. TD Securities cut Rogers Communications from an “action list buy” rating to a “buy” rating and set a C$85.00 price objective on the stock. in a research report on Wednesday, February 6th. CIBC lifted their price objective on Rogers Communications from C$72.00 to C$73.00 in a research report on Friday, January 25th. Cormark lifted their price objective on Rogers Communications from C$75.00 to C$84.00 in a research report on Friday, January 25th. Finally, BMO Capital Markets lifted their price objective on Rogers Communications from C$77.00 to C$78.00 in a research report on Friday, January 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Rogers Communications currently has an average rating of “Buy” and an average price target of C$75.17.
Shares of RCI.B stock traded down C$2.27 during trading hours on Monday, reaching C$66.63. 857,609 shares of the company traded hands, compared to its average volume of 906,109. Rogers Communications has a 12-month low of C$55.67 and a 12-month high of C$70.08. The company has a quick ratio of 0.55, a current ratio of 0.72 and a debt-to-equity ratio of 202.44. The stock has a market cap of $27.50 billion and a P/E ratio of 17.90.
Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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