Desjardins Lowers Rogers Communications (TSE:RCI.B) Price Target to C$55.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by analysts at Desjardins from C$57.00 to C$55.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ target price points to a potential upside of 9.32% from the company’s current price.

A number of other analysts also recently commented on the company. TD Securities upped their price objective on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, October 24th. National Bankshares boosted their price target on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Barclays upped their price target on Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. Canaccord Genuity Group lifted their price objective on Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Scotiabank boosted their target price on Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a report on Sunday, October 26th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$56.92.

Rogers Communications Trading Down 0.5%

Shares of TSE RCI.B traded down C$0.25 on Monday, reaching C$50.31. 343,926 shares of the company traded hands, compared to its average volume of 1,164,453. The company has a 50 day moving average of C$52.23 and a 200 day moving average of C$49.70. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.15. The stock has a market capitalization of C$27.18 billion, a PE ratio of 4.03, a P/E/G ratio of 0.32 and a beta of 1.03.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.