Rogers Communications (TSE:RCI.B) Price Target Raised to C$49.00

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target raised by Desjardins from C$45.00 to C$49.00 in a report issued on Thursday,BayStreet.CA reports.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets upped their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Scotiabank lowered their price target on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$53.00 to C$55.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Canaccord Genuity Group increased their target price on shares of Rogers Communications from C$47.00 to C$48.00 in a report on Thursday. Finally, CIBC lowered their target price on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a report on Thursday, July 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$54.32.

Rogers Communications Stock Up 2.0%

Shares of RCI.B traded up C$0.90 during mid-day trading on Thursday, reaching C$45.82. The company's stock had a trading volume of 2,660,188 shares, compared to its average volume of 1,997,441. The stock has a market cap of C$19.32 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.55. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The company's 50 day moving average is C$38.15 and its 200 day moving average is C$38.91.

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.