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

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$57.73.

RCI.B has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Canaccord Genuity Group lifted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. 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 report on Monday, January 12th. Scotiabank cut their target price on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce raised their target price on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at C$53.55 on Friday. The firm has a market capitalization of C$28.93 billion, a P/E ratio of 4.20, a PEG ratio of 0.32 and a beta of 1.13. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The company has a 50 day moving average price of C$52.22 and a 200 day moving average price of C$51.79. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$56.27.

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.