Rogers Communications (TSE:RCI.B) Stock Rating Lowered by Scotiabank

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$50.00 target price on the stock, down from their previous target price of C$58.00. Scotiabank’s price objective points to a potential upside of 38.12% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada decreased their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. TD Securities boosted their price objective on Rogers Communications from C$63.00 to C$64.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Canaccord Genuity Group dropped their target price on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their target price for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Finally, National Bankshares lowered their price target on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$59.29.

Rogers Communications Stock Performance

TSE RCI.B opened at C$36.20 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The company has a fifty day simple moving average of C$39.90 and a 200 day simple moving average of C$46.18. Rogers Communications has a 12-month low of C$35.51 and a 12-month high of C$56.55. The company has a market cap of C$15.26 billion, a P/E ratio of 22.21, a PEG ratio of 0.32 and a beta of 0.62.

Rogers Communications Company Profile

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.