Rogers Communications Inc. (TSE:RCI.B) Receives Average Recommendation of “Moderate Buy” from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$59.00.

Several research analysts have weighed in on RCI.B shares. National Bank Financial lowered their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Desjardins set a C$58.00 price objective on shares of Rogers Communications and gave the company a “hold” rating in a research note on Thursday, July 23rd. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research note on Thursday, April 23rd.

Rogers Communications Price Performance

Shares of RCI.B opened at C$50.10 on Tuesday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. The firm has a 50-day simple moving average of C$48.92 and a 200-day simple moving average of C$50.34. The company has a market capitalization of C$27.07 billion, a price-to-earnings ratio of 4.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96.

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.