Rogers Communications (TSE:RCI.B) Given New C$42.00 Price Target at Morgan Stanley

by · The Cerbat Gem

Rogers Communications (TSE:RCI.B – Get Free Report) (NYSE:RCI) had its price target decreased by investment analysts at Morgan Stanley from C$50.00 to C$42.00 in a research report issued on Tuesday,BayStreet.CA reports. Morgan Stanley’s price objective points to a potential downside of 12.86% from the stock’s previous close.

Several other research firms have also weighed in on RCI.B. Scotiabank lifted their price objective on Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada cut their target price on Rogers Communications from C$63.00 to C$60.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Raymond James Financial set a C$68.00 target price on Rogers Communications and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Canaccord Genuity Group boosted their price target on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$58.65.

View Our Latest Analysis on Rogers Communications

Rogers Communications Trading Down 1.7%

TSE RCI.B traded down C$0.82 during mid-day trading on Tuesday, reaching C$48.20. 674,194 shares of the stock were exchanged, compared to its average volume of 1,936,367. The stock has a market cap of C$26.04 billion, a P/E ratio of 3.70, a P/E/G ratio of 0.32 and a beta of 0.95. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a one year low of C$44.21 and a one year high of C$56.27. The stock has a 50 day simple moving average of C$50.07 and a 200-day simple moving average of C$50.68.

About Rogers Communications

(Get Free Report)

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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