Rogers Communications (TSE:RCI.B) Given a C$60.00 Price Target at Royal Bank Of Canada

Royal Bank Of Canada set a C$60.00 price target on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a research note published on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on RCI.B. National Bank Financial cut their price target on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. TD Securities downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Canaccord Genuity Group increased their price target 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. Finally, Desjardins decreased their price target on Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$59.00.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$46.00 on Thursday. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$24.85 billion, a P/E ratio of 3.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95. The stock has a 50 day moving average of C$49.93 and a 200-day moving average of C$50.57.

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.