Rogers Communications (TSE:RCI.B) Given New C$54.00 Price Target at Royal Bank of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by Royal Bank of Canada from C$57.00 to C$54.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 64.03% from the company’s previous close.

A number of other research firms have also recently commented on RCI.B. Bank of America lowered their target price on Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. National Bankshares reduced their price objective on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating and dropped their price target for the company from C$42.00 to C$41.00 in a research report on Monday. Finally, TD Securities lowered their price objective on Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$55.77.

Rogers Communications Price Performance

Shares of TSE RCI.B opened at C$32.92 on Wednesday. The company has a market capitalization of C$13.88 billion, a PE ratio of 20.20, a PEG ratio of 0.32 and a beta of 0.62. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock’s 50 day moving average price is C$38.92 and its 200-day moving average price is C$45.21. Rogers Communications has a twelve month low of C$32.42 and a twelve month 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.