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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target hoisted by research analysts at Desjardins from C$53.00 to C$56.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 1.73% from the stock’s previous close.

A number of other research analysts also recently commented on RCI.B. CIBC increased their target price on Rogers Communications from C$55.00 to C$58.00 in a research report on Friday, October 17th. Canaccord Genuity Group increased their target price on Rogers Communications from C$52.00 to C$55.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. National Bankshares set a C$59.00 target price on Rogers Communications and gave the company an “outperform” rating in a research report on Tuesday, August 12th. BMO Capital Markets increased their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, TD Securities raised their price target on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$56.06.

Rogers Communications Stock Up 1.9%

TSE RCI.B opened at C$55.05 on Friday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a market capitalization of C$29.62 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.32 and a beta of 0.98. Rogers Communications has a one year low of C$32.42 and a one year high of C$55.12. The stock has a 50 day moving average price of C$49.84 and a 200-day moving average price of C$43.24.

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.