Rogers Communications Inc. (TSE:RCI.B) Receives C$59.00 Average Price Target from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$59.00.

A number of research analysts have issued reports on the stock. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. TD raised their price target on shares of Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 23rd. Canaccord Genuity Group reduced their price objective on Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Finally, Morgan Stanley decreased their price objective on Rogers Communications from C$50.00 to C$42.00 in a report on Tuesday, July 21st.

Rogers Communications Price Performance

Shares of TSE RCI.B opened at C$47.74 on Friday. The business’s fifty day moving average price is C$49.77 and its two-hundred day moving average price is C$50.45. The firm has a market capitalization of C$25.79 billion, a PE ratio of 4.19, a P/E/G ratio of 0.32 and a beta of 0.95. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1-year low of C$44.21 and a 1-year high of C$56.27.

Rogers Communications Company Profile

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.