Rogers Communications (TSE:RCI.B) Given New C$63.00 Price Target at Royal Bank Of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price upped by research analysts at Royal Bank Of Canada from C$61.00 to C$63.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 23.58% from the company’s current price.

Several other equities research analysts also recently issued reports on RCI.B. Canaccord Genuity Group boosted their price objective on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and cut their price objective for the company from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Scotiabank cut their price objective 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. Finally, TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$56.00 to C$60.00 in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.33.

Rogers Communications Trading Down 0.4%

Shares of RCI.B stock traded down C$0.23 on Thursday, hitting C$50.98. The stock had a trading volume of 970,288 shares, compared to its average volume of 1,860,922. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm has a market capitalization of C$27.54 billion, a P/E ratio of 4.00, a P/E/G ratio of 0.32 and a beta of 0.96. Rogers Communications has a 1 year low of C$34.19 and a 1 year high of C$56.27. The company’s 50 day moving average price is C$51.48 and its 200-day moving average price is C$51.72.

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.