UBS Group Lowers Rogers Communications (TSE:RCI.B) Price Target to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective reduced by stock analysts at UBS Group from C$66.00 to C$63.00 in a report issued on Tuesday,BayStreet.CA reports. UBS Group’s price target suggests a potential upside of 75.29% from the company’s previous close.

RCI.B has been the subject of several other research reports. Scotiabank lowered Rogers Communications from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$58.00 to C$50.00 in a research note on Tuesday. National Bankshares dropped their price objective on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Securities lifted their target price on shares of Rogers Communications from C$63.00 to C$64.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group reduced their price target on Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.43.

Rogers Communications Stock Performance

Shares of TSE RCI.B traded down C$2.49 during midday trading on Tuesday, hitting C$35.94. The company’s stock had a trading volume of 3,485,880 shares, compared to its average volume of 2,088,969. The firm has a market capitalization of C$15.15 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a fifty day moving average price of C$40.07 and a 200 day moving average price of C$46.45. Rogers Communications has a one year low of C$35.57 and a one year high of C$56.55.

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.