Scotiabank Boosts Rogers Communications (TSE:RCI.B) Price Target to C$58.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective raised by investment analysts at Scotiabank from C$57.50 to C$58.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 17.12% from the stock’s current price.

Several other research firms also recently commented on RCI.B. Desjardins decreased their price objective on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday. CIBC raised their price target on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Canaccord Genuity Group lifted their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Barclays boosted their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Finally, National Bankshares raised their target price on shares of 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 issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$56.92.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$49.52 on Monday. The firm has a fifty day simple moving average of C$52.07 and a two-hundred day simple moving average of C$49.84. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The company has a market capitalization of C$26.75 billion, a PE ratio of 3.97, a P/E/G ratio of 0.32 and a beta of 1.03.

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.