National Bankshares Cuts Rogers Communications (TSE:RCI.B) Price Target to C$53.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective lowered by National Bankshares from C$54.00 to C$53.00 in a report published on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Bank of America dropped their price target on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Royal Bank of Canada dropped their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Scotiabank reduced their price target on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. TD Securities boosted their price objective on shares of Rogers Communications from C$63.00 to C$64.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group reduced their target price on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$59.43.

Rogers Communications Price Performance

Shares of TSE RCI.B opened at C$36.17 on Tuesday. The business has a fifty day moving average price of C$39.98 and a two-hundred day moving average price of C$46.32. The stock has a market capitalization of C$15.25 billion, a PE ratio of 22.19, a P/E/G ratio of 0.32 and a beta of 0.62. 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 fifty-two week low of C$35.51 and a fifty-two 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.