Rogers Communications (TSE:RCI.B) Shares Climb 3.8% - Still a Buy?

Key Points

• Rogers Communications shares rose 3.8% to C$45.68, with roughly 1.19 million shares traded—42% below average volume.
• Analyst sentiment remains positive: nine analysts rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating and an average target price of C$58.77.
• The company has a C$24.50 billion market capitalization and elevated leverage, with a debt-to-equity ratio of 436.50; its shares remain below both the 50-day and 200-day moving averages.

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI's share price traded up 3.8% on Friday. The stock traded as high as C$45.74 and last traded at C$45.68. Approximately 1,193,037 shares traded hands during trading, a decline of 42% from the average session volume of 2,065,245 shares. The stock had previously closed at C$43.99.

Analyst Ratings Changes

RCI.B has been the subject of a number of recent analyst reports. Desjardins upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating and set a C$58.00 target price for the company in a research report on Monday, September 14th. Canaccord Genuity Group decreased their price target on Rogers Communications from C$58.00 to C$57.50 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Raymond James Financial set a C$68.00 price objective on Rogers Communications and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, Morgan Stanley lowered their target price on Rogers Communications from C$50.00 to C$42.00 in a report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$58.77.

Rogers Communications Trading Up 3.1%

The firm has a market cap of C$24.50 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.32 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The company has a 50-day moving average price of C$47.12 and a 200 day moving average price of C$49.53.

Rogers Communications Company Profile

Rogers is Canada's communications, sports 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. For more information, please visit rogers.com or about.rogers.com/investor-relations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.