Rogers Communications (TSE:RCI.B) Price Target Raised to C$57.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by Canaccord Genuity Group from C$55.00 to C$57.00 in a research report report published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

RCI.B has been the subject of a number of other reports. National Bankshares raised their price objective on shares of Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Morgan Stanley increased their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. TD Securities boosted their price objective on shares of Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Barclays upped their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. lifted their target price on Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$56.92.

Rogers Communications Price Performance

Shares of TSE:RCI.B opened at C$49.44 on Tuesday. The business has a fifty day moving average price of C$51.97 and a 200-day moving average price of C$49.84. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The company has a market capitalization of C$26.71 billion, a PE ratio of 3.96, a PEG ratio of 0.32 and a beta of 1.03. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.15.

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. 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.