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

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

Several other equities analysts have also weighed in on RCI.B. Royal Bank of Canada cut 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 report on Wednesday, December 18th. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. TD Securities dropped their target price on Rogers Communications from C$65.00 to C$63.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. National Bankshares cut their price target on 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. Finally, Scotiabank lowered their price target on 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$60.23.

Rogers Communications Stock Up 4.0 %

Shares of RCI.B stock opened at C$41.29 on Monday. Rogers Communications has a fifty-two week low of C$38.97 and a fifty-two week high of C$63.34. The firm has a market capitalization of C$17.41 billion, a PE ratio of 25.33, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock’s 50-day simple moving average is C$44.48 and its 200-day simple moving average is C$50.02.

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.