JPMorgan Chase & Co. Cuts Rogers Communications (TSE:RCI.B) Price Target to C$53.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from C$57.00 to C$53.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 45.88% from the stock’s previous close.

Other analysts also recently issued reports about the stock. UBS Group cut their price objective on shares of Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. Scotiabank lowered shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$58.00 to C$50.00 in a report on Tuesday. TD Securities cut their target price on Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Bank of America decreased their price target on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$58.14.

Rogers Communications Stock Up 0.4 %

Shares of Rogers Communications stock traded up C$0.13 during midday trading on Thursday, hitting C$36.33. The company had a trading volume of 1,277,309 shares, compared to its average volume of 2,167,944. Rogers Communications has a 52-week low of C$35.51 and a 52-week high of C$56.55. The stock has a market capitalization of C$15.32 billion, a P/E ratio of 22.29, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a 50 day moving average of C$39.90 and a 200 day moving average of C$46.18. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.