Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target cut by Scotiabank from C$50.00 to C$49.50 in a report released on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.
RCI.B has been the subject of a number of other reports. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating and lowered their price target for the company from C$42.00 to C$41.00 in a report on Monday, April 7th. Barclays lowered Rogers Communications from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Bank of America lowered their price objective on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. TD Securities reduced their target price on Rogers Communications from C$64.00 to C$62.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, UBS Group dropped their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rogers Communications has an average rating of "Moderate Buy" and an average target price of C$55.73.
Check Out Our Latest Research Report on Rogers Communications
Rogers Communications Stock Up 2.9 %
Rogers Communications stock traded up C$1.00 during midday trading on Wednesday, hitting C$35.84. 1,483,359 shares of the company were exchanged, compared to its average volume of 2,273,052. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. The company's fifty day moving average price is C$38.41 and its 200-day moving average price is C$44.41. The company has a market cap of C$15.11 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62.
About Rogers Communications
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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.
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