Rogers Communications (TSE:RCI.B) Given a C$68.00 Price Target by Raymond James Financial Analysts

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been assigned a C$68.00 price objective by equities researchers at Raymond James Financial in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 39.09% from the company’s current price.

RCI.B has been the topic of several other research reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a report on Thursday, April 23rd. Scotiabank increased their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada reduced their target price on shares of Rogers Communications from C$63.00 to C$60.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Finally, Desjardins lowered their price target on Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$59.27.

Rogers Communications Stock Performance

TSE:RCI.B traded up C$1.33 during trading hours on Thursday, hitting C$48.89. 1,059,601 shares of the company traded hands, compared to its average volume of 1,943,653. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$44.21 and a twelve month high of C$56.27. The firm has a 50-day moving average of C$50.15 and a 200 day moving average of C$50.73. The stock has a market capitalization of C$26.41 billion, a price-to-earnings ratio of 3.75, a P/E/G ratio of 0.32 and a beta of 0.95.

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.