Rogers Communications (TSE:RCI.B) Given New C$50.00 Price Target at Bank of America

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target reduced by Bank of America from C$55.00 to C$50.00 in a report issued on Monday,BayStreet.CA reports. Bank of America‘s price objective would indicate a potential upside of 25.98% from the stock’s previous close.

A number of other analysts have also recently issued reports on RCI.B. Royal Bank of Canada reduced 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 research note on Wednesday, December 18th. Desjardins cut their price target on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, November 28th. TD Securities decreased their price objective on shares of Rogers Communications from C$65.00 to C$63.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Canaccord Genuity Group lowered their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Finally, Scotiabank reduced 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average target price of C$60.23.

Rogers Communications Stock Up 0.3 %

RCI.B opened at C$39.69 on Monday. The company has a market capitalization of C$16.74 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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$38.97 and a fifty-two week high of C$63.48. The business has a 50-day moving average of C$44.68 and a 200-day moving average of C$50.09.

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.