Rogers Communications Inc. (TSE:RCI.B) Given Average Rating of "Moderate Buy" by Brokerages

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI has earned an average rating of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$55.73.

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Royal Bank Of Canada decreased their price target on shares of 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. Scotiabank lowered their price target on Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Canaccord Genuity Group lifted their price objective on Rogers Communications from C$44.00 to C$47.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Rogers Communications from C$53.00 to C$55.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st.

Rogers Communications Stock Up 1.1%

RCI.B stock opened at C$37.81 on Thursday. The firm has a market cap of C$15.94 billion, a PE ratio of 23.20, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1 year low of C$32.42 and a 1 year high of C$56.55. The company has a fifty day simple moving average of C$35.88 and a 200 day simple moving average of C$39.52. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.

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