Rogers Communications (TSE:RCI.B) Price Target Lowered to C$63.00 at JPMorgan Chase & Co.

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from C$65.00 to C$63.00 in a research report issued on Wednesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.73% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on RCI.B. Scotiabank dropped their price objective on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce lifted their target price on Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. TD Securities boosted their price target on shares of Rogers Communications from C$64.00 to C$67.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley boosted their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Finally, Canaccord Genuity Group raised their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$57.34.

Rogers Communications Trading Down 0.8%

Shares of RCI.B traded down C$0.44 during trading on Wednesday, reaching C$53.06. 568,289 shares of the company traded hands, compared to its average volume of 1,677,352. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.27. The stock has a market cap of C$28.66 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. The stock has a 50-day simple moving average of C$52.66 and a 200-day simple moving average of C$51.96. The company has a quick ratio of 0.58, a current ratio of 0.65 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. 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.