Analysts Set Rogers Communications Inc. (TSE:RCI.B) PT at C$56.90

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$57.73.

RCI.B has been the topic of several recent analyst reports. Scotiabank reduced their price target on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Barclays boosted their price target on Rogers Communications from C$46.00 to C$50.00 in a report on Monday, November 10th. Desjardins decreased their target price on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, January 12th. Canaccord Genuity Group upped their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th.

Rogers Communications Stock Performance

RCI.B stock opened at C$50.90 on Friday. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The firm has a market cap of C$27.50 billion, a price-to-earnings ratio of 4.00, a PEG ratio of 0.32 and a beta of 1.07. The business’s fifty day simple moving average is C$51.15 and its two-hundred day simple moving average is C$50.50. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.