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

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI has earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$55.50.

RCI.B has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Scotiabank lowered their price target on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Barclays lowered shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Rogers Communications from C$53.00 to C$55.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, UBS Group lowered their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st.

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up C$0.32 on Friday, reaching C$36.69. The stock had a trading volume of 1,606,631 shares, compared to its average volume of 2,024,396. The business's 50-day moving average price is C$35.77 and its two-hundred day moving average price is C$40.84. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. The stock has a market cap of C$15.47 billion, a P/E ratio of 22.51, a price-to-earnings-growth 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.