Rogers Communications (TSE:RCI.B) Lowered to Equal Weight Rating by Barclays

Barclays cut shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday,BayStreet.CA reports. Barclays currently has C$39.00 price target on the stock, down from their previous price target of C$63.00.

RCI.B has been the subject of several other research reports. National Bankshares lowered their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. TD Securities lowered their price objective on shares of Rogers Communications from C$71.00 to C$65.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Canaccord Genuity Group dropped their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Royal Bank of Canada decreased their target price on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Desjardins dropped their price target on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research report on Thursday, November 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$61.08.

Rogers Communications Price Performance

Shares of TSE RCI.B opened at C$41.46 on Thursday. 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 company has a market capitalization of C$17.48 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a twelve month low of C$39.65 and a twelve month high of C$64.55. The business has a 50 day simple moving average of C$45.22 and a 200-day simple moving average of C$50.29.

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.