Rogers Communications Inc. (TSE:RCI.B) Receives C$55.35 Consensus Price Target from Analysts

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$55.50.

A number of equities analysts have recently commented on RCI.B shares. Canaccord Genuity Group raised their target price on shares of Rogers Communications from C$41.00 to C$44.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on Rogers Communications from C$53.00 to C$55.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group cut their price target on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Bank of America dropped their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Finally, Scotiabank reduced their price target on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating for the company in a report on Thursday, April 24th.

Rogers Communications Stock Performance

Shares of TSE:RCI.B opened at C$35.22 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.55. The company has a market capitalization of C$14.85 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 0.32 and a beta of 0.62. The firm’s 50-day moving average is C$37.46 and its 200 day moving average is C$42.98.

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.