Rogers Communications (TSE:RCI.B) PT Set at C$58.00 by Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been given a C$58.00 target price by equities research analysts at Desjardins in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price would suggest a potential upside of 25.54% from the stock’s previous close.

RCI.B has been the subject of a number of other reports. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Finally, National Bank Financial cut their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Trading Up 0.4%

TSE:RCI.B opened at C$46.20 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 1-year low of C$44.21 and a 1-year high of C$56.27. The firm has a market capitalization of C$24.96 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 0.32 and a beta of 0.95. The business’s 50-day moving average price is C$49.88 and its two-hundred day moving average price is C$50.54.

More Rogers Communications News

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

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.