Rogers Communications (TSE:RCI.B) Price Target Raised to C$65.00 at JPMorgan Chase & Co.

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lifted by JPMorgan Chase & Co. from C$63.00 to C$65.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the company. Canadian Imperial Bank of Commerce upped their target price on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. Desjardins upped their target price on Rogers Communications from C$54.50 to C$59.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. TD raised Rogers Communications from a “hold” rating to a “buy” rating and upped their target price for the company from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. TD Securities lowered Rogers Communications from a “buy” rating to a “hold” rating and cut their target price for the company from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Finally, Royal Bank Of Canada upped their target price on Rogers Communications from C$61.00 to C$63.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$58.48.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$49.80 on Monday. The business’s 50 day moving average is C$51.31 and its two-hundred day moving average is C$51.74. Rogers Communications has a 52-week low of C$34.66 and a 52-week high of C$56.27. The firm has a market cap of C$26.90 billion, a price-to-earnings ratio of 3.82, a PEG ratio of 0.32 and a beta of 0.96. 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.