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

Barclays downgraded shares of Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI from an overweight rating to an equal weight rating in a report issued on Thursday morning,BayStreet.CA reports. They currently have C$39.00 price objective on the stock, down from their previous price objective of C$63.00.

Several other analysts have also issued reports on the stock. Scotiabank dropped their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 8th. Canaccord Genuity Group cut their price objective on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Desjardins decreased their target price 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. TD Securities dropped their price target on Rogers Communications from C$71.00 to C$65.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Finally, 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 on the stock in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of "Moderate Buy" and an average price target of C$60.23.

Rogers Communications Stock Performance

Rogers Communications stock traded down C$0.41 during mid-day trading on Thursday, reaching C$39.51. 2,033,373 shares of the company traded hands, compared to its average volume of 1,946,581. Rogers Communications has a fifty-two week low of C$38.97 and a fifty-two week high of C$63.48. The firm's fifty day moving average is C$44.88 and its two-hundred day moving average is C$50.16. 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 company has a market capitalization of C$16.66 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62.

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.