Rogers Communications Inc. (TSE:RCI.B) Receives C$60.31 Average Price Target from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$60.31.

Several analysts have recently weighed in on RCI.B shares. TD Securities raised their price objective on shares of Rogers Communications from C$63.00 to C$64.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Scotiabank reduced their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Bank of America reduced their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$39.49 on Friday. The firm’s fifty day moving average price is C$42.55 and its 200-day moving average price is C$49.31. 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 cap of C$16.65 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a fifty-two week low of C$37.97 and a fifty-two week high of C$62.05.

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.