Rogers Communications Inc. (TSE:RCI.B) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$56.90.

RCI.B has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. National Bankshares increased their price target on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Barclays raised their target price on Rogers Communications from C$46.00 to C$50.00 in a report on Monday, November 10th. Finally, Scotiabank lowered their target price on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th.

Rogers Communications Trading Up 5.7%

Shares of TSE:RCI.B opened at C$52.00 on Friday. The stock’s 50-day simple moving average is C$51.34 and its two-hundred day simple moving average is C$50.32. The stock has a market capitalization of C$28.09 billion, a price-to-earnings ratio of 4.17, a PEG ratio of 0.32 and a beta of 1.03. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$56.15. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.