Desjardins Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.A) Stock

Key Points

• Desjardins raised its price target for Rogers Communications from C$55.00 to C$57.00 and maintained a “buy” rating, implying approximately 20% upside from the previous close.
• Analyst sentiment remains positive: Rogers has a consensus “Buy” rating and an average price target of C$58.81, with Canaccord also raising its target while Scotiabank trimmed its estimate.
• Rogers reported quarterly earnings of C$1.29 per share on C$5.44 billion in revenue. The stock rose 0.8% to C$47.48, while its high debt-to-equity ratio and below-1 current and quick ratios indicate notable leverage and liquidity risks.

Rogers Communications (TSE:RCI.A - Get Free Report) had its price target raised by research analysts at Desjardins from C$55.00 to C$57.00 in a research report issued on Monday, BayStreet reports. The firm currently has a "buy" rating on the stock. Desjardins's price objective indicates a potential upside of 20.05% from the stock's previous close.

Several other research analysts also recently commented on the stock. Scotiabank decreased their target price on shares of Rogers Communications from C$61.00 to C$60.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, October 20th. Canaccord Genuity Group increased their price target on shares of Rogers Communications from C$57.50 to C$59.25 and gave the company a "buy" rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Rogers Communications currently has a consensus rating of "Buy" and an average price target of C$58.81.

Rogers Communications Trading Up 0.8%

RCI.A traded up C$0.40 on Monday, hitting C$47.48. 766 shares of the company were exchanged, compared to its average volume of 1,930. 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 firm has a fifty day simple moving average of C$48.60 and a two-hundred day simple moving average of C$49.66. The stock has a market capitalization of C$25.65 billion, a PE ratio of 4.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06. Rogers Communications has a 12 month low of C$43.00 and a 12 month high of C$56.72.

Rogers Communications (TSE:RCI.A - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The company reported C$1.29 earnings per share for the quarter. The firm had revenue of C$5.44 billion during the quarter. Rogers Communications had a return on equity of 7.93% and a net margin of 4.30%. Sell-side analysts expect that Rogers Communications will post 5.10 earnings per share for the current year.

Rogers Communications Company Profile

Rogers is Canada's leading communications and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange NYSE: RCI.

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