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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They presently have a C$50.00 target price on the stock, down from their prior target price of C$58.00. Scotiabank’s target price would suggest a potential upside of 39.12% from the stock’s previous close.

RCI.B has been the topic of several other reports. Canaccord Genuity Group reduced their target price on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Bank of America lowered their target price on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. National Bankshares decreased their price objective on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays lowered Rogers Communications from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Finally, TD Securities boosted their target price on Rogers Communications from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$59.43.

Rogers Communications Price Performance

TSE:RCI.B traded down C$2.49 during trading hours on Tuesday, reaching C$35.94. The company had a trading volume of 3,485,880 shares, compared to its average volume of 2,088,969. The stock has a 50-day moving average of C$40.07 and a two-hundred day moving average of C$46.45. 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 has a one year low of C$35.57 and a one year high of C$56.55. The firm has a market capitalization of C$15.15 billion, a PE ratio of 22.05, a PEG ratio of 0.32 and a beta of 0.62.

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.