Rogers Communications (TSE:RCI.B) Given a C$59.00 Price Target by National Bankshares Analysts

Key Points

• National Bankshares has set a price target of C$59.00 for Rogers Communications, indicating a potential upside of 25.27% from its current price.
• CIBC has recently reduced its target price on the stock from C$76.00 to C$55.00, while other firms have adjusted their targets upwards, with several analysts rating the stock as a "buy."
• Rogers Communications is the largest wireless service provider in Canada, making up one third of the total Canadian market, with its wireless business contributing 60% to its total sales in 2021.

National Bankshares set a C$59.00 price objective on Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI in a report issued on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on RCI.B. Desjardins lifted their price target on shares of Rogers Communications from C$49.00 to C$51.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Scotiabank cut their price objective on 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. JPMorgan Chase & Co. boosted their price target on Rogers Communications from C$55.00 to C$59.00 in a research note on Friday, July 25th. Canaccord Genuity Group upped their price target on Rogers Communications from C$48.00 to C$52.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets increased their price objective on Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$53.79.

Rogers Communications Trading Up 0.7%

Rogers Communications stock traded up C$0.34 during midday trading on Tuesday, hitting C$48.78. 1,799,004 shares of the stock were exchanged, compared to its average volume of 2,001,437. 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 capitalization of C$20.57 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 0.32 and a beta of 0.62. The stock's 50-day simple moving average is C$43.43 and its 200 day simple moving average is C$39.60. 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.