Rogers Communications (TSE:RCI.B) Price Target Cut to C$63.00 by Analysts 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 note issued to investors on Tuesday,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. Barclays downgraded Rogers Communications from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Scotiabank downgraded Rogers Communications from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$58.00 to C$50.00 in a research report on Tuesday. National Bankshares cut their target price on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank of Canada decreased their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group dropped their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$59.43.

Rogers Communications Stock Down 5.9 %

RCI.B opened at C$36.17 on Tuesday. The company has a market capitalization of C$15.25 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm has a 50-day simple moving average of C$39.98 and a two-hundred day simple moving average of C$46.32. 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 52 week low of C$35.51 and a 52 week high of C$56.55.

Rogers Communications Company Profile

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.