Rogers Communications (TSE:RCI.B) Price Target Raised to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target hoisted by stock analysts at National Bank Financial from C$62.00 to C$63.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 26.51% from the company’s current price.

Several other equities research analysts have also recently issued reports on RCI.B. TD raised shares of Rogers Communications from a “hold” rating to a “buy” rating and raised their price target for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Canaccord Genuity Group raised their target price on shares of Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada raised their target price on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. Finally, TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.56.

Rogers Communications Trading Down 0.3%

Shares of Rogers Communications stock traded down C$0.17 during mid-day trading on Tuesday, hitting C$49.80. 303,529 shares of the stock were exchanged, compared to its average volume of 1,828,302. Rogers Communications has a twelve month low of C$34.66 and a twelve month high of C$56.27. The stock has a market capitalization of C$26.90 billion, a price-to-earnings ratio of 3.82, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The company has a 50-day simple moving average of C$50.80 and a 200 day simple moving average of C$51.63. The company has a current ratio of 0.65, a quick ratio of 0.58 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.