Rogers Communications Inc. (TSE:RCI.B) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$59.00.

RCI.B has been the subject of several recent research reports. Scotiabank increased their price target on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada set a C$60.00 price target on shares of Rogers Communications and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. National Bank Financial dropped their price objective on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating on the stock in a research report on Thursday.

Rogers Communications Stock Down 0.8%

Shares of RCI.B stock opened at C$46.00 on Friday. The stock has a 50 day moving average of C$49.93 and a 200-day moving average of C$50.57. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12 month low of C$44.21 and a 12 month high of C$56.27. The firm has a market cap of C$24.85 billion, a PE ratio of 3.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95.

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.