Rogers Communications Inc. (TSE:RCI.B) Receives C$58.48 Consensus Target Price from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$58.56.

RCI.B has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce increased 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 report on Thursday, April 23rd. National Bank Financial increased their price target on shares of Rogers Communications from C$62.00 to C$63.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Scotia raised shares of 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. Finally, Royal Bank Of Canada increased their price target on shares of Rogers Communications from C$61.00 to C$63.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd.

Rogers Communications Stock Down 0.9%

RCI.B opened at C$48.58 on Friday. The firm has a 50-day simple moving average of C$50.31 and a two-hundred day simple moving average of C$51.51. Rogers Communications has a 52 week low of C$35.40 and a 52 week high of C$56.27. The company has a market capitalization of C$26.24 billion, a PE ratio of 3.73, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. 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 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.