Rogers Communications Inc. (TSE:RCI.B) Receives C$59.00 Consensus Target Price from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$59.00.

Several equities research analysts have commented on the stock. National Bank Financial decreased 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. Royal Bank Of Canada set a C$60.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 23rd. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 price objective for the company in a research note on Monday, September 14th. 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 note on Thursday, July 16th. Finally, Scotiabank boosted their price objective on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$49.17 on Friday. The business’s fifty day moving average price is C$49.31 and its 200 day moving average price is C$50.12. The firm has a market capitalization of C$26.56 billion, a PE ratio of 4.31, a P/E/G ratio of 0.32 and a beta of 0.97. 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.

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.