National Bank Financial Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective boosted by National Bank Financial from C$60.00 to C$62.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 21.62% from the company’s previous close.

Other analysts have also recently issued reports about the company. Desjardins reduced their price target on Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price target on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Scotiabank reduced their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Canaccord Genuity Group boosted their price target on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$58.33.

Rogers Communications Price Performance

TSE RCI.B traded down C$0.23 during trading on Thursday, hitting C$50.98. 970,288 shares of the company’s stock were exchanged, compared to its average volume of 1,860,922. The company has a market cap of C$27.54 billion, a PE ratio of 4.00, a P/E/G ratio of 0.32 and a beta of 0.96. 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 stock’s 50 day moving average price is C$51.48 and its two-hundred day moving average price is C$51.72. Rogers Communications has a fifty-two week low of C$34.19 and a fifty-two week high of C$56.27.

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.