Royal Bank of Canada Lowers Rogers Communications (TSE:RCI.B) Price Target to C$54.00

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price target dropped by stock analysts at Royal Bank of Canada from C$57.00 to C$54.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 54.24% from the stock's previous close.

RCI.B has been the topic of several other reports. Scotiabank downgraded Rogers Communications from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from C$58.00 to C$50.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of Rogers Communications from C$57.00 to C$53.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating and dropped their target price for the stock from C$42.00 to C$41.00 in a research report on Monday, April 7th. TD Securities reduced their price target on shares of Rogers Communications from C$64.00 to C$62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group lowered their price objective on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$55.77.

Rogers Communications Stock Up 3.1 %

Shares of TSE RCI.B traded up C$1.04 during trading on Wednesday, reaching C$35.01. 2,058,198 shares of the stock were exchanged, compared to its average volume of 2,276,393. The business's 50-day moving average price is C$38.80 and its 200 day moving average price is C$44.99. The company has a market capitalization of C$14.76 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.55. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.