Analysts Set Rogers Communications Inc. (TSE:RCI.B) Price Target at C$58.56

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$58.56.

A number of equities research analysts have issued reports on the company. Desjardins raised their target price on Rogers Communications from C$54.50 to C$59.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. National Bank Financial raised their target price on 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. Canadian Imperial Bank of Commerce raised their target price on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research note on Thursday, April 23rd. Finally, Canaccord Genuity Group raised their target price on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd.

Rogers Communications Stock Performance

RCI.B stock opened at C$53.88 on Thursday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock has a market capitalization of C$29.11 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 0.32 and a beta of 0.89. Rogers Communications has a 1 year low of C$36.86 and a 1 year high of C$56.27. The stock’s fifty day moving average is C$49.61 and its two-hundred day moving average is C$51.22.

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.