Rogers Communications (TSE:RCI.B) PT Set at C$60.00 by Royal Bank Of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been given a C$60.00 price objective by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 29.87% from the stock’s current price.

Several other research firms also recently issued reports on RCI.B. Canadian Imperial Bank of Commerce lifted their price target on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research note on Thursday, April 23rd. TD raised shares of Rogers Communications from a “hold” rating to a “buy” rating and upped their price objective for the company from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. Desjardins lowered their target price on Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. TD Securities downgraded Rogers Communications from a “buy” rating to a “hold” rating and lowered their target price for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Finally, National Bank Financial dropped their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Trading Up 0.4%

RCI.B opened at C$46.20 on Thursday. The firm’s 50 day moving average is C$49.88 and its 200-day moving average is C$50.54. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27. 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 firm has a market capitalization of C$24.96 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 0.95.

Trending Headlines about Rogers Communications

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.