Rogers Communications (TSE:RCI.B) Price Target Raised to C$58.00

by · The Cerbat Gem

Rogers Communications (TSE:RCI.B – Get Free Report) (NYSE:RCI) had its target price lifted by analysts at Scotiabank from C$57.50 to C$58.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 15.29% from the company’s previous close.

A number of other brokerages have also weighed in on RCI.B. Morgan Stanley raised their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. National Bankshares boosted their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. increased their target price on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. TD Securities boosted their price target on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Desjardins lowered their price objective on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research note on Monday. Seven 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, the company currently has an average rating of “Moderate Buy” and an average price target of C$56.92.

Check Out Our Latest Report on RCI.B

Rogers Communications Price Performance

Shares of TSE:RCI.B traded down C$0.25 during midday trading on Monday, hitting C$50.31. The stock had a trading volume of 343,926 shares, compared to its average volume of 1,164,453. The company’s 50-day moving average price is C$52.23 and its 200-day moving average price is C$49.70. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.15. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The company has a market capitalization of C$27.18 billion, a P/E ratio of 4.03, a price-to-earnings-growth ratio of 0.32 and a beta of 1.03.

About Rogers Communications

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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.

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