Rogers Communications Inc. (TSE:RCI.B) Receives C$56.69 Average PT from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have earned an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$55.77.

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating and reduced their price target for the company from C$42.00 to C$41.00 in a report on Monday. Scotiabank cut shares of Rogers Communications from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from C$58.00 to C$50.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut their price target on shares of Rogers Communications from C$57.00 to C$53.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Barclays lowered shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Finally, Bank of America reduced their target price on Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd.

Rogers Communications Trading Down 4.4 %

TSE RCI.B traded down C$1.52 on Friday, hitting C$32.72. The company's stock had a trading volume of 686,393 shares, compared to its average volume of 2,240,253. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The firm has a market cap of C$13.80 billion, a P/E ratio of 20.07, a PEG ratio of 0.32 and a beta of 0.62. The company's 50-day simple moving average is C$39.05 and its 200 day simple moving average is C$45.29. Rogers Communications has a 52-week low of C$32.67 and a 52-week high of C$56.55.

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.