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

Key Points

• Rogers Communications Inc. has been given a consensus recommendation of "Moderate Buy" by analysts, with eight out of ten research firms assigning a buy rating.
• The average 1-year price objective for Rogers Communications stock is C$53.29, with recent adjustments from several analysts ranging from C$48.50 to C$58.00.
• As Canada's largest wireless service provider, Rogers accounts for one third of the total Canadian market, with its wireless business representing 60% of the company's total sales in 2021.

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have earned a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$53.29.

Several research analysts recently commented on the stock. TD Securities raised their price objective on shares of Rogers Communications from C$57.00 to C$58.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Scotiabank dropped their target price 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 target on Rogers Communications from C$48.00 to C$52.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. CIBC decreased their price objective on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 3rd. Finally, Desjardins raised their target price on Rogers Communications from C$49.00 to C$51.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th.

Rogers Communications Stock Up 2.0%

RCI.B opened at C$46.29 on Friday. The company's 50-day moving average price is C$42.12 and its two-hundred day moving average price is C$39.33. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.55. The stock has a market cap of C$19.52 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 0.32 and a beta of 0.62.

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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