Rogers Communications (TSE:RCI.B) Given a C$58.00 Price Target at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been given a C$58.00 price target by equities researchers at Desjardins in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price points to a potential upside of 25.05% from the stock’s current price.

A number of other research analysts also recently commented on RCI.B. 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. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday. National Bank Financial reduced their price objective on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$59.00.

Rogers Communications Price Performance

Rogers Communications stock traded up C$0.02 during mid-day trading on Thursday, reaching C$46.38. The company had a trading volume of 1,087,573 shares, compared to its average volume of 1,952,730. The company has a market capitalization of C$25.06 billion, a P/E ratio of 3.56, a P/E/G ratio of 0.32 and a beta of 0.95. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1 year low of C$44.21 and a 1 year high of C$56.27. The stock’s 50-day simple moving average is C$49.99 and its 200-day simple moving average is C$50.61.

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. 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.