Rogers Communications (TSE:RCI.B) PT Set at C$68.00 by Raymond James Financial

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been assigned a C$68.00 target price by analysts at Raymond James Financial in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 39.98% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Royal Bank Of Canada reduced their target price on Rogers Communications from C$63.00 to C$60.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Canaccord Genuity Group lifted their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. 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 company an “outperformer” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$59.27.

Rogers Communications Stock Performance

RCI.B opened at C$48.58 on Thursday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a market cap of C$26.24 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95. The stock has a 50-day moving average of C$50.09 and a 200-day moving average of C$50.70. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27.

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.