Royal Bank of Canada Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target dropped by Royal Bank of Canada from C$66.00 to C$61.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 36.65% from the stock’s previous close.

RCI.B has been the subject of several other research reports. TD Securities cut their price target on Rogers Communications from C$71.00 to C$65.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. BMO Capital Markets lifted their target price on Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday, September 19th. National Bankshares cut their price objective on Rogers Communications from C$77.00 to C$67.00 in a research note on Tuesday, November 12th. Scotiabank reduced their price objective on Rogers Communications from C$69.00 to C$66.50 in a research note on Tuesday, November 26th. Finally, Desjardins dropped their price objective on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research note on Thursday, November 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$66.23.

Rogers Communications Price Performance

Shares of Rogers Communications stock traded down C$0.70 during trading on Wednesday, reaching C$44.64. The company’s stock had a trading volume of 1,149,201 shares, compared to its average volume of 1,597,915. The stock has a 50-day moving average price of C$50.82 and a two-hundred day moving average price of C$52.40. 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 market capitalization of C$18.82 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a one year low of C$44.55 and a one year high of C$64.71.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.