Rogers Communications (TSE:RCI.B) Rating Increased to Buy at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was upgraded by research analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage currently has a C$58.00 price target on the stock. Desjardins’ target price points to a potential upside of 12.82% from the company’s current price.

Several other research firms have also recently issued reports on RCI.B. Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research report on Thursday, July 16th. National Bank Financial reduced their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Scotiabank increased their price objective on Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Trading Up 2.5%

Shares of TSE RCI.B traded up C$1.23 during mid-day trading on Monday, reaching C$51.41. The company had a trading volume of 931,320 shares, compared to its average volume of 1,945,994. The stock has a market cap of C$27.77 billion, a price-to-earnings ratio of 4.51, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The business’s 50-day moving average is C$48.93 and its 200-day moving average is C$50.24. 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.