Rogers Communications (TSE:RCI.B) PT Set at C$60.00 by Royal Bank Of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been assigned a C$60.00 price objective by analysts at Royal Bank Of Canada in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 29.37% from the company’s current price.

Several other research firms also recently issued reports on RCI.B. Desjardins dropped their price target on Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$56.00 to C$60.00 in a report on Thursday, April 23rd. TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and cut their target price for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Raymond James Financial set a C$68.00 price target on Rogers Communications and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley cut their price objective on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and two 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$59.00.

Rogers Communications Stock Up 0.0%

Shares of TSE:RCI.B traded up C$0.02 during midday trading on Thursday, reaching C$46.38. 1,087,573 shares of the company were exchanged, compared to its average volume of 1,952,730. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. 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 stock has a fifty day simple moving average of C$49.99 and a two-hundred day simple moving average of C$50.61. The firm has a market cap of C$25.06 billion, a PE ratio of 3.56, a P/E/G ratio of 0.32 and a beta of 0.95.

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.