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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$60.31.

RCI.B has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price objective on Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Desjardins cut their price target on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a research note on Thursday, November 28th. Bank of America reduced their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a research note on Monday, February 3rd. National Bankshares decreased their price target on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Scotiabank cut their price target on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at C$40.21 on Tuesday. The stock has a market cap of C$16.95 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 0.32 and a beta of 0.62. The company’s fifty day moving average is C$40.74 and its 200 day moving average is C$47.77. 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 twelve month low of C$37.97 and a twelve month high of C$58.37.

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.