Rogers Communications (TSE:RCI.B) PT Set at C$59.00 by National Bankshares

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 research note issued to investors on Tuesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also weighed in on RCI.B. Canaccord Genuity Group upped their price objective on Rogers Communications from C$48.00 to C$52.00 and gave the stock a "buy" rating in a research 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 report on Thursday, April 24th. Desjardins increased their target price on Rogers Communications from C$49.00 to C$51.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. Finally, CIBC dropped their target price on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a report on Thursday, July 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$53.79.

Rogers Communications Price Performance

Shares of Rogers Communications stock traded up C$0.34 on Tuesday, hitting C$48.78. 1,799,004 shares of the company were exchanged, compared to its average volume of 2,001,437. The stock has a market capitalization of C$20.57 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a 50-day moving average price of C$43.43 and a 200 day moving average price of C$39.60. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.55. 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 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.