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 objective trimmed by Bank of America from C$55.00 to C$50.00 in a report released on Monday,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. Desjardins dropped their price objective on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, November 28th. Scotiabank dropped their price objective on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. National Bankshares decreased their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Canaccord Genuity Group decreased 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, Royal Bank of Canada decreased 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 report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$60.23.

Rogers Communications Stock Down 0.9 %

RCI.B stock opened at C$39.56 on Monday. The stock has a market capitalization of C$16.68 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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 12 month low of C$38.97 and a 12 month high of C$63.48. The firm has a 50-day moving average price of C$44.88 and a 200-day moving average price of C$50.16.

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.