Rogers Communications (TSE:RCI.B) Given a C$58.00 Price Target at Desjardins

Desjardins set a C$58.00 target price on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a report issued on Thursday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

RCI.B has been the topic of several other research reports. TD boosted their target price on shares of Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday. National Bank Financial dropped their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Canaccord Genuity Group dropped their target price on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research report on Thursday. Royal Bank Of Canada set a C$60.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a report on Thursday. Finally, TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and reduced their price target for the company from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$46.00 on Thursday. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock has a fifty day moving average price of C$49.93 and a two-hundred day moving average price of C$50.57. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27. The firm has a market capitalization of C$24.85 billion, a P/E ratio of 3.53, a P/E/G ratio of 0.32 and a beta of 0.95.

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.