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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price upped by stock analysts at Barclays from C$46.00 to C$50.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Barclays‘s price target indicates a potential downside of 5.50% from the company’s current price.

A number of other research analysts also recently weighed in on RCI.B. Canaccord Genuity Group upped their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Scotiabank increased their target price on Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a report on Sunday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. CIBC raised their price objective on shares of Rogers Communications from C$55.00 to C$58.00 in a research note on Friday, October 17th. Finally, Desjardins boosted their target price on shares of Rogers Communications from C$53.00 to C$56.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$57.40.

Rogers Communications Trading Up 0.8%

Shares of TSE:RCI.B traded up C$0.42 during mid-day trading on Monday, hitting C$52.91. The company had a trading volume of 386,715 shares, compared to its average volume of 1,964,953. The company has a market capitalization of C$28.58 billion, a PE ratio of 4.24, a price-to-earnings-growth ratio of 0.32 and a beta of 0.93. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.15. The firm has a fifty day moving average price of C$50.85 and a 200 day moving average price of C$44.73. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.