Rogers Communications (TSE:RCI.B) Price Target Raised to C$67.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target hoisted by TD Securities from C$64.00 to C$67.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on RCI.B. Desjardins dropped their price objective on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday, January 12th. Scotiabank cut their price objective on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Canaccord Genuity Group upped their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Finally, National Bankshares raised their price target on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$57.13.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at C$51.40 on Friday. The firm has a market cap of C$27.77 billion, a PE ratio of 4.03, a PEG ratio of 0.32 and a beta of 1.03. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.15. The stock has a 50 day moving average of C$51.28 and a 200 day moving average of C$50.43. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.