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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$57.73.

RCI.B has been the subject of several research reports. Canaccord Genuity Group upped their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Desjardins cut their price objective on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce increased their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Barclays boosted their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. Finally, Scotiabank reduced their price objective on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th.

Rogers Communications Trading Up 0.9%

Shares of RCI.B stock opened at C$54.44 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The firm has a market cap of C$29.41 billion, a P/E ratio of 4.27, a price-to-earnings-growth ratio of 0.32 and a beta of 1.07. The business has a 50-day moving average price of C$51.28 and a two-hundred day moving average price of C$51.20. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.15.

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.