Rogers Communications (TSE:RCI.B) Price Target Raised to C$47.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by Canaccord Genuity Group from C$44.00 to C$47.00 in a report published on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Rogers Communications from C$53.00 to C$55.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. UBS Group dropped their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Scotiabank lowered their price target on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, National Bankshares set a C$52.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$55.73.

Rogers Communications Stock Down 0.7%

Rogers Communications stock opened at C$36.99 on Monday. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. The stock has a market cap of C$15.60 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm’s 50-day simple moving average is C$35.55 and its 200 day simple moving average is C$39.95. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

Rogers Communications Company Profile

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.