Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, TD Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by TD from C$60.00 to C$65.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s target price would indicate a potential upside of 40.15% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Scotiabank increased their price objective on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th. National Bank Financial decreased their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Canaccord Genuity Group dropped their price target on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce boosted their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada set a C$60.00 price objective on Rogers Communications and gave the stock an “outperform” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Stock Performance

RCI.B traded up C$0.02 during trading on Thursday, reaching C$46.38. 1,087,573 shares of the company were exchanged, compared to its average volume of 1,952,730. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The firm has a 50 day moving average of C$49.99 and a 200 day moving average of C$50.61. The stock has a market cap of C$25.06 billion, a P/E ratio of 3.56, a PEG 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.