Rogers Communications (TSE:RCI.B) Price Target Cut to C$54.50 by Analysts at Desjardins

Key Points

• Desjardins lowered its price target on Rogers Communications to C$54.50 from C$55.00 and kept a "hold" rating, implying roughly a 16.5% upside from the prior close.
• Rogers stock traded at C$46.79 (down ~2.2%)—well below the average analyst target of C$56.16 and its 12‑month high—and while the shares show a very low PE of 3.67, the company carries a high debt‑to‑equity ratio of 436.5.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price objective lowered by research analysts at Desjardins from C$55.00 to C$54.50 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Desjardins' price target would suggest a potential upside of 16.48% from the company's previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their target price on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Canaccord Genuity Group lifted their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company a "buy" rating in a report on Friday, January 30th. Morgan Stanley lifted their target price on Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Scotiabank reduced their target price on Rogers Communications from C$58.00 to C$57.75 and set a "sector perform" rating on the stock in a report on Tuesday, January 20th. Finally, TD Securities cut Rogers Communications from a "buy" rating to a "hold" rating and reduced their target price for the company from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$56.16.

Rogers Communications Trading Down 2.2%

Rogers Communications stock traded down C$1.05 during midday trading on Tuesday, reaching C$46.79. The stock had a trading volume of 982,400 shares, compared to its average volume of 1,746,156. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.27. The stock has a market capitalization of C$25.28 billion, a PE ratio of 3.67, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96. 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 50-day simple moving average is C$52.57 and its 200 day simple moving average is C$51.97.

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. Rogers' cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.

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