Rogers Communications Inc. (TSE:RCI.B) Receives Average Recommendation of “Moderate Buy” from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$58.69.

A number of equities analysts have recently weighed in on the company. Desjardins set a C$59.00 target price on Rogers Communications and gave the stock a “hold” rating in a research report on Thursday, June 25th. Canaccord Genuity Group lifted their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and boosted their price target for the company from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, National Bank Financial raised their price objective on shares of Rogers Communications from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th.

Rogers Communications Price Performance

Shares of TSE:RCI.B opened at C$45.08 on Monday. The business’s 50 day simple moving average is C$50.68 and its two-hundred day simple moving average is C$50.97. The firm has a market cap of C$24.35 billion, a P/E ratio of 3.46, a PEG ratio of 0.32 and a beta of 0.89. 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 has a 52-week low of C$43.39 and a 52-week high of C$56.27.

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.