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

Key Points

• Rogers Communications has a “Moderate Buy” consensus rating from 11 analysts, with nine buys and two holds. The average 12-month price target is C$59.00.
• Several brokerages recently raised their targets, including TD to C$65.00 and Scotiabank to C$61.00, while maintaining positive ratings on the stock.
• Shares opened at C$50.10, down 0.9%, with Rogers valued at approximately C$27.07 billion. Its wireless business is the company’s largest segment, generating about 60% of total sales.

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI has been assigned an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$59.00.

RCI.B has been the subject of a number of research analyst reports. TD upped their price objective on shares of Rogers Communications from C$60.00 to C$65.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Scotia raised shares of Rogers Communications from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from C$57.75 to C$60.50 in a research report on Thursday, April 23rd. National Bank Financial decreased their target price on shares of Rogers Communications from C$63.00 to C$62.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Scotiabank upped their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada set a C$60.00 target price on shares of Rogers Communications and gave the stock an "outperform" rating in a research note on Thursday, July 23rd.

Rogers Communications Stock Down 0.9%

Shares of RCI.B opened at C$50.10 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12 month low of C$44.21 and a 12 month high of C$56.27. The stock's 50 day moving average is C$48.92 and its two-hundred day moving average is C$50.34. The firm has a market cap of C$27.07 billion, a P/E ratio of 4.39, a PEG ratio of 0.32 and a beta of 0.96.

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. 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source