Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, TD Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by stock analysts at TD from C$60.00 to C$65.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price target indicates a potential upside of 40.69% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on RCI.B. Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday, July 16th. National Bank Financial decreased 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 research report on Tuesday, July 7th. Royal Bank Of Canada set a C$60.00 target price on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. increased 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, TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and cut their price target for the stock from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Stock Up 0.4%

RCI.B opened at C$46.20 on Thursday. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm’s fifty day moving average price is C$49.88 and its two-hundred day moving average price is C$50.54. The company 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

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.