Scotiabank Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective reduced by research analysts at Scotiabank from C$58.00 to C$57.75 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 14.06% from the company’s previous close.

Several other analysts have also commented on RCI.B. National Bankshares lifted their price target on shares of 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. TD Securities raised their target price on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. CIBC upped their price target on Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Desjardins cut their price objective on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. Finally, Morgan Stanley upped their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.90.

Rogers Communications Trading Up 1.3%

Shares of RCI.B traded up C$0.65 during mid-day trading on Tuesday, reaching C$50.63. The stock had a trading volume of 2,239,850 shares, compared to its average volume of 1,339,709. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$56.15. The firm has a market cap of C$27.35 billion, a price-to-earnings ratio of 4.06, a P/E/G ratio of 0.32 and a beta of 1.03. The business’s fifty day moving average is C$51.86 and its 200 day moving average is C$50.06. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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. 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.