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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$58.56.

A number of equities analysts recently issued reports on the stock. Desjardins set a C$59.00 target price on shares of Rogers Communications and gave the stock a “hold” rating in a research report on Thursday. Scotia upgraded shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and raised their price target for the stock from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Finally, National Bank Financial raised their price target on shares of Rogers Communications from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th.

Rogers Communications Stock Performance

Shares of TSE RCI.B opened at C$49.53 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The business’s 50 day moving average is C$50.73 and its two-hundred day moving average is C$51.11. The company has a market cap of C$26.76 billion, a P/E ratio of 3.80, a P/E/G ratio of 0.32 and a beta of 0.89. Rogers Communications has a 12 month low of C$39.71 and a 12 month 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.