JPMorgan Chase & Co. Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target trimmed by JPMorgan Chase & Co. from C$57.00 to C$53.00 in a research report report published on Thursday,BayStreet.CA reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group cut their price target on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Canaccord Genuity Group cut their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reduced their target price 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. Scotiabank downgraded shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$58.00 to C$50.00 in a research note on Tuesday, April 1st. Finally, TD Securities reduced their price objective on shares of Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$56.69.

Rogers Communications Stock Up 0.1 %

TSE:RCI.B opened at C$36.73 on Thursday. The company has a market cap of C$15.49 billion, a price-to-earnings ratio of 22.53, 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 quick ratio of 0.58 and a current ratio of 0.65. The stock’s fifty day moving average price is C$39.74 and its two-hundred day moving average price is C$45.99. 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.