Rogers Communications (TSE:RCI.B) Rating Lowered to “Hold” at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Wednesday,BayStreet.CA reports. They presently have a C$57.00 target price on the stock. Desjardins’ price objective indicates a potential upside of 15.15% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Barclays upped their target price on Rogers Communications from C$46.00 to C$50.00 in a report on Monday, November 10th. National Bankshares increased their target price on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. lifted their price target on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Morgan Stanley increased their price objective on Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday. Finally, Scotiabank boosted their target price on shares of Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a research report on Sunday, October 26th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$57.06.

Rogers Communications Stock Down 2.3%

Shares of Rogers Communications stock traded down C$1.19 during midday trading on Wednesday, hitting C$49.50. The company’s stock had a trading volume of 859,081 shares, compared to its average volume of 1,945,329. The firm has a market capitalization of C$26.74 billion, a P/E ratio of 3.97, a PEG ratio of 0.32 and a beta of 0.88. The stock has a 50-day simple moving average of C$52.77 and a 200-day simple moving average of C$47.52. 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 1-year low of C$32.42 and a 1-year high of C$56.15.

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.