Rogers Communications Inc. (TSE:RCI.B) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

A number of equities analysts recently commented on RCI.B shares. Scotiabank reduced their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Desjardins cut their price objective 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. TD Securities lifted their target price on Rogers Communications from C$64.00 to C$67.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Canaccord Genuity Group boosted 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, Canadian Imperial Bank of Commerce increased their price target on Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$52.85 on Tuesday. The company has a fifty day moving average price of C$51.01 and a two-hundred day moving average price of C$51.03. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.15. The stock has a market cap of C$28.55 billion, a P/E ratio of 4.15, a P/E/G ratio of 0.32 and a beta of 1.07. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.