Rogers Communications Inc. (TSE:RCI.B) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$58.56.

Several analysts have recently weighed in on RCI.B shares. TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Royal Bank Of Canada lifted their target price on Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their target price on Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Finally, National Bank Financial lifted their target price on Rogers Communications from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th.

Rogers Communications Stock Up 0.4%

TSE:RCI.B opened at C$52.70 on Thursday. Rogers Communications has a twelve month low of C$36.01 and a twelve month high of C$56.27. The company has a market cap of C$28.47 billion, a price-to-earnings ratio of 4.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89. The stock has a fifty day simple moving average of C$49.62 and a 200-day simple moving average of C$51.23. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.