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

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is C$57.06.

Several equities analysts recently issued reports on the stock. CIBC boosted their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Morgan Stanley upped their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Desjardins cut Rogers Communications from a “buy” rating to a “hold” rating and set a C$57.00 target price on the stock. in a research report on Wednesday, December 10th. Canaccord Genuity Group upped their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Barclays increased their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th.

Rogers Communications Stock Down 0.1%

Shares of RCI.B stock opened at C$50.56 on Monday. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The stock has a market cap of C$27.31 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 1.03. The stock has a 50 day moving average of C$52.23 and a 200 day moving average of C$49.57. 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.