Rogers Communications (TSE:RCI.B) Price Target Raised to C$55.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target boosted by JPMorgan Chase & Co. from C$53.00 to C$55.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group increased their price objective on Rogers Communications from C$41.00 to C$44.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. National Bankshares dropped their price target on shares of Rogers Communications from C$53.00 to C$52.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Bank of America reduced their price objective on shares of Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. Scotiabank lowered their target price on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reduced their price target on Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of C$55.50.

Rogers Communications Trading Up 0.1 %

TSE RCI.B opened at C$35.22 on Thursday. The company has a market capitalization of C$14.85 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.55. 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 firm’s fifty day simple moving average is C$37.46 and its 200-day simple moving average is C$42.91.

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.