Brokerages Set Rogers Communications Inc. (TSE:RCI.B) Target Price at C$55.50

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have received an average recommendation of "Moderate Buy" from the nine brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$55.50.

Several research firms have commented on RCI.B. Canaccord Genuity Group increased their price objective on shares of Rogers Communications from C$41.00 to C$44.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Bank of America decreased their price target on Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. UBS Group reduced their price objective on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Royal Bank of Canada decreased their target price on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays downgraded shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th.

Rogers Communications Stock Down 0.7%

Rogers Communications stock traded down C$0.25 during trading on Friday, hitting C$36.49. 293,699 shares of the company were exchanged, compared to its average volume of 2,020,348. The company has a market capitalization of C$15.39 billion, a P/E ratio of 22.39, a PEG ratio of 0.32 and a beta of 0.62. The business's 50 day moving average is C$35.87 and its 200 day moving average is C$40.90. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$56.55. 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.