JPMorgan Chase & Co. Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price dropped by investment analysts at JPMorgan Chase & Co. from C$57.00 to C$53.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 44.30% from the stock’s current price.

Several other brokerages have also recently weighed in on RCI.B. TD Securities reduced their price objective on shares of Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Wednesday. National Bankshares reduced their price target on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Tuesday. Bank of America lowered their price objective on Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. UBS Group reduced their target price on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Finally, Canaccord Genuity Group lowered their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$56.69.

Rogers Communications Stock Up 0.1 %

TSE:RCI.B opened at C$36.73 on Thursday. Rogers Communications has a one year low of C$35.51 and a one 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 company has a market cap of C$15.49 billion, a PE ratio of 22.53, a P/E/G ratio of 0.32 and a beta of 0.62. The firm’s 50 day simple moving average is C$39.74 and its 200 day simple moving average is C$45.99.

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.