Scotiabank Cuts Rogers Communications (TSE:RCI.B) Price Target to C$48.50

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target cut by investment analysts at Scotiabank from C$49.50 to C$48.50 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 39.01% from the company’s current price.

A number of other research analysts also recently weighed in on RCI.B. Barclays downgraded Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating and cut their target price for the company from C$42.00 to C$41.00 in a research note on Monday, April 7th. National Bankshares reduced their target price on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Bank of America lowered their price target on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$55.35.

Rogers Communications Trading Down 0.3 %

RCI.B opened at C$34.89 on Thursday. The firm has a 50 day simple moving average of C$37.94 and a 200 day simple moving average of C$43.70. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. The company has a market cap of C$14.71 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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.