Rogers Communications (TSE:RCI.B) Given a C$68.00 Price Target by Raymond James Financial Analysts

Raymond James Financial set a C$68.00 target price on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a report released on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on RCI.B. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Canaccord Genuity Group increased their target price on shares of Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of 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. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.27.

Rogers Communications Stock Up 2.8%

RCI.B opened at C$48.89 on Thursday. The stock has a fifty day moving average of C$50.13 and a 200-day moving average of C$50.71. The company has a market capitalization of C$26.41 billion, a P/E ratio of 3.75, a P/E/G ratio of 0.32 and a beta of 0.95. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.