Rogers Communications Inc. (TSE:RCI.B) Given Average Rating of “Moderate Buy” by Brokerages

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$57.73.

RCI.B has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Canadian Imperial Bank of Commerce lifted their price objective on Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Canaccord Genuity Group upped their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Scotiabank reduced their target price on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Finally, TD Securities raised their price target on Rogers Communications from C$64.00 to C$67.00 and gave the stock a “buy” rating in a research report on Friday, January 30th.

Rogers Communications Stock Down 1.3%

Shares of RCI.B opened at C$52.42 on Friday. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.27. The firm’s 50 day moving average is C$52.16 and its 200-day moving average is C$51.72. The stock has a market capitalization of C$28.32 billion, a PE ratio of 4.11, a P/E/G ratio of 0.32 and a beta of 1.13. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.