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

Key Points

• Rogers Communications has a consensus analyst rating of "Moderate Buy", based on coverage from 11 analysts: eight rate it a buy and three rate it a hold.
• The average 12-month price target for the stock is C$58.48, with several recent analyst updates nudging targets higher, including TD’s upgrade to buy and RBC’s target increase to C$63.00.
• Rogers opened at C$50.55 and remains below its recent analyst targets; the company is Canada’s largest wireless provider with more than 10 million subscribers and a diversified business across wireless, cable, and media.

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$58.48.

RCI.B has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Rogers Communications from C$58.00 to C$57.75 and set a "sector perform" rating on the stock in a research note on Tuesday, January 20th. Desjardins increased their price target on shares of Rogers Communications from C$54.50 to C$59.00 and gave the stock a "hold" rating in a research note on Thursday, April 23rd. National Bank Financial increased their price target on shares of Rogers Communications from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a "hold" rating to a "buy" rating and increased their price target for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada increased their price target on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$50.55 on Friday. The company's fifty day moving average is C$50.95 and its 200-day moving average is C$51.64. Rogers Communications has a 12 month low of C$34.66 and a 12 month high of C$56.27. The firm has a market cap of C$27.31 billion, a price-to-earnings ratio of 3.88, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The company has a quick ratio of 0.58, a current ratio of 0.65 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. Rogers' cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.

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.