Rogers Communications (TSE:RCI.B) Given New C$63.00 Price Target at UBS Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target decreased by UBS Group from C$66.00 to C$63.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

A number of other research analysts also recently weighed in on the company. Bank of America lowered their target price on Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Canaccord Genuity Group lowered their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. TD Securities upped their target price on shares of Rogers Communications from C$63.00 to C$64.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$59.43.

Rogers Communications Price Performance

TSE RCI.B opened at C$36.17 on Tuesday. The stock has a market capitalization of C$15.25 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1-year low of C$35.51 and a 1-year high of C$56.55. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The business’s fifty day moving average price is C$39.98 and its 200-day moving average price is C$46.32.

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.