Rogers Communications (TSE:RCI.B) Price Target Raised to C$47.00

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its target price boosted by Canaccord Genuity Group from C$44.00 to C$47.00 in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price target on Rogers Communications from C$53.00 to C$55.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. National Bankshares set a C$52.00 price target on Rogers Communications and gave the company an "outperform" rating in a report on Friday, June 6th. UBS Group cut their price target on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Royal Bank of Canada cut their price target on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Scotiabank cut their price target on Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$55.73.

Rogers Communications Stock Up 1.7%

Shares of TSE RCI.B traded up C$0.64 during trading hours on Monday, hitting C$37.63. The company had a trading volume of 1,145,421 shares, compared to its average volume of 1,980,623. The stock has a market capitalization of C$15.87 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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 1-year low of C$32.42 and a 1-year high of C$56.55. The firm's 50 day moving average is C$35.55 and its 200-day moving average is C$39.95.

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.