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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$58.56.

A number of equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a report on Thursday, April 23rd. National Bank Financial upped their target price on shares of Rogers Communications from C$62.00 to C$63.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Royal Bank Of Canada increased their price target on shares of Rogers Communications from C$61.00 to C$63.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Finally, Canaccord Genuity Group increased their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday, April 23rd.

Rogers Communications Stock Down 0.5%

Shares of RCI.B stock opened at C$52.58 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 firm’s 50-day moving average is C$49.68 and its 200-day moving average is C$51.25. The stock has a market cap of C$28.41 billion, a price-to-earnings ratio of 4.03, a PEG ratio of 0.32 and a beta of 1.02. Rogers Communications has a 52-week low of C$36.01 and a 52-week high of C$56.27.

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. 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.