TD Issues Positive Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective lifted by TD from C$60.00 to C$65.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s price target points to a potential upside of 40.15% from the stock’s previous close.

RCI.B has been the subject of several other reports. 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 for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Desjardins reduced their price objective on shares of 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. Royal Bank Of Canada set a C$60.00 target price on shares of Rogers Communications and gave the stock an “outperform” rating in a research report on Thursday. Finally, Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Stock Up 0.0%

Shares of Rogers Communications stock traded up C$0.02 on Thursday, hitting C$46.38. 1,087,573 shares of the company traded hands, compared to its average volume of 1,952,730. Rogers Communications has a 12-month low of C$44.21 and a 12-month 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 company has a market cap of C$25.06 billion, a PE ratio of 3.56, a PEG ratio of 0.32 and a beta of 0.95. The company has a 50-day moving average price of C$49.99 and a 200 day moving average price of C$50.61.

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.