Analysts Set Rogers Communications Inc. (TSE:RCI.B) Target Price at C$60.31

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$60.31.

Several research analysts recently weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Desjardins decreased their target price on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, November 28th. Bank of America reduced their price target on Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. TD Securities upped their target price on Rogers Communications from C$63.00 to C$64.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays lowered Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their target price for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th.

Rogers Communications Trading Down 0.9 %

TSE:RCI.B opened at C$39.75 on Friday. The company has a market capitalization of C$16.76 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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 52-week low of C$37.97 and a 52-week high of C$62.05. The stock has a fifty day simple moving average of C$42.75 and a 200-day simple moving average of C$49.39.

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.