Scotiabank Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective dropped by research analysts at Scotiabank from C$69.00 to C$66.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 33.56% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Desjardins reduced their target price on shares of Rogers Communications from C$68.00 to C$63.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Rogers Communications from C$67.00 to C$70.00 in a report on Thursday, September 19th. Royal Bank of Canada lifted their price objective on Rogers Communications from C$65.00 to C$66.00 in a research report on Thursday, September 19th. Finally, National Bankshares reduced their price target on shares of Rogers Communications from C$77.00 to C$67.00 in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$67.32.

Rogers Communications Stock Performance

TSE RCI.B opened at C$49.79 on Tuesday. The company has a fifty day moving average of C$52.10 and a 200-day moving average of C$52.78. Rogers Communications has a 52-week low of C$48.67 and a 52-week high of C$64.71. 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 company has a market capitalization of C$20.99 billion, a P/E ratio of 30.55, a P/E/G ratio of 0.32 and a beta of 0.62.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.