Rogers Communications Inc. (TSE:RCI.B) Receives C$59.00 Consensus Target Price from Analysts

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$59.00.

Several analysts have recently commented on RCI.B shares. Morgan Stanley lowered their price target on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce lifted their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research report on Thursday, April 23rd. TD Securities lowered Rogers Communications from a “buy” rating to a “hold” rating and reduced their target price for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$46.20 on Friday. 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$24.96 billion, a P/E ratio of 4.05, a PEG ratio of 0.32 and a beta of 0.95. The company has a 50-day moving average of C$49.88 and a two-hundred day moving average of C$50.53. Rogers Communications has a 12-month low of C$44.21 and a 12-month high of C$56.27.

Rogers Communications News Summary

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

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.