Brokerages Set Rogers Communications Inc. (TSE:RCI.B) PT at C$58.48

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has received an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$58.56.

Several research analysts have weighed in on RCI.B shares. TD raised Rogers Communications from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Royal Bank Of Canada boosted their price objective on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Finally, Desjardins boosted their price objective on shares of Rogers Communications from C$54.50 to C$59.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd.

Rogers Communications Stock Down 0.7%

TSE:RCI.B opened at C$49.02 on Friday. The firm has a market capitalization of C$26.48 billion, a price-to-earnings ratio of 3.76, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. Rogers Communications has a twelve month low of C$34.98 and a twelve month high of C$56.27. The stock’s 50 day moving average price is C$50.45 and its two-hundred day moving average price is C$51.53. 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 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.