Desjardins Analysts Give Rogers Communications (TSE:RCI.B) a C$58.00 Price Target

Desjardins set a C$58.00 price target on Rogers Communications (TSE:RCI.B) (NYSE:RCI) in a research note published on Monday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Scotiabank lifted their price target on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Canaccord Genuity Group cut their price objective on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Finally, TD upped their price objective on Rogers Communications from C$60.00 to C$65.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Trading Up 1.3%

Shares of TSE:RCI.B opened at C$51.29 on Monday. The stock has a market capitalization of C$27.71 billion, a price-to-earnings ratio of 4.50, a PEG ratio of 0.32 and a beta of 0.96. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock’s 50-day simple moving average is C$48.49 and its two-hundred day simple moving average is C$50.32. Rogers Communications has a 52-week low of C$44.21 and a 52-week high of C$56.27.

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.