Rogers Communications (TSE:RCI.B) Cut to Equal Weight at Barclays

Barclays cut shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from an overweight rating to an equal weight rating in a report released on Thursday morning,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 a number of other reports. TD Securities reduced 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 reduced their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Desjardins lowered their price target on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, November 28th. National Bankshares cut their price objective on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Royal Bank of Canada lowered their target price on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$61.08.

Rogers Communications Price Performance

TSE:RCI.B opened at C$39.92 on Thursday. 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 12-month low of C$39.65 and a 12-month high of C$64.55. The stock’s 50 day moving average price is C$44.88 and its two-hundred day moving average price is C$50.17. The firm has a market capitalization of C$16.83 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 0.32 and a beta of 0.62.

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.