Rogers Communications (TSE:RCI.B) Price Target Lowered to C$50.00 at Bank of America

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target cut by Bank of America from C$55.00 to C$50.00 in a report released on Monday,BayStreet.CA reports.

A number of other brokerages also recently commented on RCI.B. Desjardins reduced their price objective on Rogers Communications from C$68.00 to C$61.00 and set a "buy" rating on the stock in a research report on Thursday, November 28th. Scotiabank reduced their price objective on shares of Rogers Communications from C$66.50 to C$64.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada lowered 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 note on Wednesday, December 18th. National Bankshares reduced their price target on shares of Rogers Communications from C$62.00 to C$54.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Finally, TD Securities lowered their price objective on shares of Rogers Communications from C$65.00 to C$63.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$60.23.

Rogers Communications Price Performance

TSE RCI.B traded down C$2.78 during mid-day trading on Monday, hitting C$38.51. The stock had a trading volume of 4,111,292 shares, compared to its average volume of 2,205,503. The firm's 50 day moving average is C$44.31 and its 200 day moving average is C$49.96. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock has a market capitalization of C$16.24 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a twelve month low of C$38.16 and a twelve month high of C$63.00.

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.