Rogers Communications (TSE:RCI.B) Price Target Raised to C$54.26

Key Points

• Scotiabank raised its price target for Rogers Communications from C$51.50 to C$54.26, suggesting a potential upside of 10.87% from the stock's previous close.
• Analysts have given Rogers Communications an average rating of "Moderate Buy" with a collective price target averaging around C$54.27, indicating strong investor interest.
• Rogers Communications is Canada’s largest wireless provider, holding a market share of over one third of total subscribers with a significant portion of sales coming from its wireless business.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price objective lifted by investment analysts at Scotiabank from C$51.50 to C$54.26 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target indicates a potential upside of 10.87% from the company's previous close.

RCI.B has been the subject of a number of other reports. Desjardins increased their price target on Rogers Communications from C$49.00 to C$51.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BMO Capital Markets lifted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Canaccord Genuity Group boosted their price objective on shares of Rogers Communications from C$48.00 to C$52.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. CIBC dropped their price objective on shares of Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 3rd. Finally, TD Securities upped their target price on shares of Rogers Communications from C$57.00 to C$58.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$54.27.

Rogers Communications Price Performance

Shares of TSE RCI.B traded down C$0.26 during midday trading on Monday, reaching C$48.94. The company's stock had a trading volume of 854,182 shares, compared to its average volume of 1,959,540. 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$56.00. The business's 50 day moving average price is C$46.71 and its two-hundred day moving average price is C$40.58. The company has a market cap of C$26.44 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.32 and a beta of 1.02.

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.

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