Rogers Communications (TSE:RCI.B) Given a C$59.00 Price Target at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been assigned a C$59.00 target price by equities researchers at Desjardins in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective suggests a potential upside of 18.93% from the company’s current price.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group boosted their target price on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Canadian Imperial Bank of Commerce increased their price objective on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research note on Thursday, April 23rd. Finally, Scotia upgraded shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$58.56.

Rogers Communications Price Performance

Shares of RCI.B stock traded down C$0.87 on Thursday, hitting C$49.61. 790,234 shares of the company’s stock were exchanged, compared to its average volume of 1,895,991. The company has a 50 day moving average of C$50.59 and a 200 day moving average of C$51.13. The stock has a market cap of C$26.80 billion, a P/E ratio of 3.80, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89. 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 12 month low of C$39.71 and a 12 month high of C$56.27.

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.