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

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

Several other equities analysts also recently commented on RCI.B. National Bankshares lowered their price objective on shares of Rogers Communications from C$62.00 to C$54.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Scotiabank lowered their price target on Rogers Communications from C$66.50 to C$64.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 8th. Desjardins cut 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. Canaccord Genuity Group decreased their target price on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Finally, TD Securities cut their price target on shares of Rogers Communications from C$65.00 to C$63.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$60.23.

Rogers Communications Price Performance

RCI.B traded up C$0.02 on Monday, reaching C$38.53. The company had a trading volume of 2,635,796 shares, compared to its average volume of 2,256,262. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 52-week low of C$37.97 and a 52-week high of C$62.46. The company has a market cap of C$16.25 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 0.32 and a beta of 0.62. The business has a 50 day simple moving average of C$44.08 and a 200 day simple moving average of C$49.88.

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.