Rogers Communications (TSE:RCI.B) Stock Price Up 3.8% – Time to Buy?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) traded up 3.8% during mid-day trading on Friday. The stock traded as high as C$45.74 and last traded at C$45.68. 1,193,037 shares were traded during mid-day trading, a decline of 42% from the average session volume of 2,065,245 shares. The stock had previously closed at C$43.99.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Rogers Communications from C$50.00 to C$42.00 in a report on Tuesday, July 21st. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 23rd. Canaccord Genuity Group reduced their price objective on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price on the stock in a report on Monday, September 14th. Finally, Scotiabank raised their price target on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$58.77.

Rogers Communications Stock Up 3.1%

The firm has a 50 day moving average of C$47.12 and a 200-day moving average of C$49.53. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock has a market capitalization of C$24.50 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 0.32 and a beta of 1.09.

About Rogers Communications

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.