Rogers Communications (TSE:RCI.B) Price Target Raised to C$57.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by analysts at Canaccord Genuity Group from C$55.00 to C$57.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 15.29% from the stock’s current price.

A number of other equities analysts have also weighed in on RCI.B. Scotiabank boosted their price target on shares of Rogers Communications from C$57.50 to C$58.00 and gave the stock a “sector perform” rating in a research report on Monday. CIBC boosted their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Barclays upped their price target on Rogers Communications from C$46.00 to C$50.00 in a report on Monday, November 10th. Desjardins decreased their price target on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a report on Monday. Finally, National Bankshares raised their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average target price of C$56.92.

Rogers Communications Stock Performance

TSE:RCI.B traded down C$0.96 during midday trading on Tuesday, hitting C$49.44. The company’s stock had a trading volume of 647,191 shares, compared to its average volume of 1,210,869. The firm’s 50 day moving average is C$52.15 and its 200-day moving average is C$49.78. The firm has a market cap of C$26.71 billion, a P/E ratio of 3.96, a P/E/G ratio of 0.32 and a beta of 1.03. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.15.

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.