Rogers Communications (TSE:RCI.B) Price Target Raised to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price hoisted by research analysts at National Bank Financial from C$62.00 to C$63.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price points to a potential upside of 26.51% from the company’s previous close.

RCI.B has been the subject of several other reports. Desjardins raised their target price on Rogers Communications from C$54.50 to C$59.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Scotia upgraded 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 note on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” 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 research note on Monday, April 27th. Finally, TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$58.56.

Rogers Communications Stock Down 0.3%

Shares of Rogers Communications stock traded down C$0.17 during trading hours on Tuesday, hitting C$49.80. 303,529 shares of the company’s stock traded hands, compared to its average volume of 1,828,302. The stock has a 50 day simple moving average of C$50.80 and a 200-day simple moving average of C$51.63. 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 cap of C$26.90 billion, a PE ratio of 3.82, a PEG ratio of 0.32 and a beta of 1.02. Rogers Communications has a twelve month low of C$34.66 and a twelve month 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.