Rogers Communications Inc. (TSE:RCI.B) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$59.00.

RCI.B has been the topic of a number of analyst reports. Scotiabank lifted their price objective on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. Canaccord Genuity Group reduced 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 report on Thursday. Canadian Imperial Bank of Commerce upped their target price on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a report on Thursday, April 23rd. TD Securities downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Finally, Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from C$57.75 to C$60.50 in a research report on Thursday, April 23rd.

Rogers Communications Trading Down 0.8%

RCI.B opened at C$46.00 on Friday. The business’s 50 day moving average is C$49.93 and its two-hundred day moving average is C$50.57. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The firm has a market cap of C$24.85 billion, a price-to-earnings ratio of 3.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.65 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.