Scotiabank Cuts Rogers Communications (TSE:RCI.B) Price Target to C$57.75

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target trimmed by Scotiabank from C$58.00 to C$57.75 in a research report released on Tuesday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other research firms have also weighed in on RCI.B. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Morgan Stanley boosted their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Barclays upped their price objective on Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. CIBC lifted their target price on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Finally, Desjardins dropped their price target on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$56.90.

Rogers Communications Price Performance

TSE:RCI.B opened at C$51.10 on Tuesday. The stock has a market capitalization of C$27.61 billion, a PE ratio of 4.10, a P/E/G ratio of 0.32 and a beta of 1.03. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.15. The firm has a fifty day simple moving average of C$51.69 and a 200 day simple moving average of C$50.12. 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. 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.