Rogers Communications Inc. (TSE:RCI.B) Receives C$57.73 Average Price Target from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$57.73.

A number of equities research analysts have recently weighed in on RCI.B shares. Canaccord Genuity Group boosted their price target on Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, January 30th. Scotiabank lowered their target price on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce raised their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Morgan Stanley lifted their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Finally, Desjardins dropped their price objective on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, January 12th.

Rogers Communications Stock Down 0.7%

Shares of Rogers Communications stock opened at C$53.94 on Tuesday. The business has a 50-day moving average price of C$51.20 and a 200 day moving average price of C$51.11. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.15. The firm has a market cap of C$29.14 billion, a P/E ratio of 4.23, a P/E/G ratio of 0.32 and a beta of 1.07. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.