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

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

A number of other research analysts also recently weighed in on RCI.B. Canaccord Genuity Group lifted their price target on Rogers Communications from C$47.00 to C$48.00 in a report on Thursday. Royal Bank Of Canada decreased their price target on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. National Bankshares upped their price target on Rogers Communications from C$52.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. CIBC cut their price objective on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating for the company in a research report on Thursday, July 3rd. Finally, TD Securities boosted their price objective on Rogers Communications from C$56.00 to C$60.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$54.32.

Rogers Communications Stock Up 0.9%

Shares of RCI.B stock traded up C$0.41 on Thursday, reaching C$45.33. 279,585 shares of the company's stock traded hands, compared to its average volume of 1,978,725. 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 quick ratio of 0.58 and a current ratio of 0.65. The company has a market capitalization of C$19.11 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The business's 50 day moving average price is C$37.94 and its two-hundred day moving average price is C$38.89.

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.