Rogers Communications (TSE:RCI.B) Price Target Raised to C$61.00 at Scotiabank

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by investment analysts at Scotiabank from C$60.50 to C$61.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 32.26% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada boosted 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 research report on Thursday, April 23rd. Scotia upgraded shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Desjardins set a C$59.00 target price on shares of Rogers Communications and gave the company a “hold” rating in a research note on Thursday, June 25th. 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 stock an “outperformer” rating in a research report on Thursday, April 23rd. Finally, National Bank Financial boosted their price target on shares of Rogers Communications from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$58.88.

Rogers Communications Stock Performance

RCI.B traded up C$1.38 on Tuesday, hitting C$46.12. 1,238,890 shares of the stock traded hands, compared to its average volume of 1,929,143. Rogers Communications has a 52 week low of C$43.39 and a 52 week high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The firm has a market capitalization of C$24.92 billion, a PE ratio of 3.54, a P/E/G ratio of 0.32 and a beta of 0.95. The business has a fifty day moving average price of C$50.68 and a two-hundred day moving average price of C$50.97.

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.