Rogers Communications (TSE:RCI.A) Price Target Cut to C$59.00 by Analysts at Scotia

Rogers Communications (TSE:RCI.A) had its target price cut by analysts at Scotia from C$60.00 to C$59.00 in a report issued on Monday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia‘s price objective would indicate a potential upside of 24.26% from the company’s current price.

Several other research analysts have also recently weighed in on RCI.A. Scotiabank cut their price target on shares of Rogers Communications from C$61.00 to C$60.00 and set a “sector outperform” rating on the stock in a report on Tuesday, October 20th. Canaccord Genuity Group increased their price objective on shares of Rogers Communications from C$57.50 to C$59.25 and gave the company a “buy” rating in a research note on Monday. Finally, Desjardins increased their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$58.81.

Rogers Communications Stock Up 0.8%

Shares of Rogers Communications stock traded up C$0.40 during trading on Monday, reaching C$47.48. 766 shares of the company traded hands, compared to its average volume of 1,930. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1-year low of C$43.00 and a 1-year high of C$56.72. The company has a 50 day moving average price of C$48.60 and a 200-day moving average price of C$49.66. The firm has a market capitalization of C$25.65 billion, a PE ratio of 4.16, a P/E/G ratio of 0.95 and a beta of 1.06.

Rogers Communications (TSE:RCI.A) last issued its earnings results on Friday, October 23rd. The company reported C$1.29 earnings per share for the quarter. Rogers Communications had a return on equity of 7.93% and a net margin of 4.30%. The company had revenue of C$5.44 billion for the quarter. As a group, equities research analysts expect that Rogers Communications will post 5.10 earnings per share for the current fiscal year.

Rogers Communications Company Profile

Rogers is Canada’s leading communications and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).