National Bank Financial Lowers Rogers Communications (TSE:RCI.B) Price Target to C$62.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target cut by National Bank Financial from C$63.00 to C$62.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 34.43% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Royal Bank Of Canada raised their price target on Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. upped their price objective on Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. Desjardins set a C$59.00 price objective on Rogers Communications and gave the stock a “hold” rating in a research report on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$58.88.

Rogers Communications Price Performance

Shares of Rogers Communications stock traded up C$1.38 during trading on Tuesday, hitting C$46.12. 1,238,890 shares of the company were exchanged, compared to its average volume of 1,929,143. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a fifty-two week low of C$43.39 and a fifty-two week high of C$56.27. The stock has a market capitalization of C$24.92 billion, a price-to-earnings ratio of 3.54, a P/E/G ratio of 0.32 and a beta of 0.95. The firm has a 50 day moving average price of C$50.68 and a 200 day moving average price of C$50.97.

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.