Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised its price target on Rogers Communications from C$54.50 to C$59.00 while maintaining a "hold," implying about a 15.73% upside from the current price.
• Analyst consensus is a "Moderate Buy" with a consensus target of C$58.33, based on eight Buy ratings and three Hold ratings.
• Shares traded at C$50.98 (down 0.4%); the stock shows a low P/E of 4.0 but a very high debt-to-equity ratio of 436.5, underscoring valuation and leverage risks.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price target upped by equities research analysts at Desjardins from C$54.50 to C$59.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Desjardins' price target suggests a potential upside of 15.73% from the company's current price.

Several other brokerages have also commented on RCI.B. TD raised Rogers Communications from a "hold" rating to a "buy" rating and raised their price objective for the company from C$56.00 to C$60.00 in a research report on Thursday. Canadian Imperial Bank of Commerce raised their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the company an "outperformer" rating in a research report on Thursday. Scotiabank lowered their price objective on Rogers Communications from C$58.00 to C$57.75 and set a "sector perform" rating for the company in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price target on Rogers Communications from C$65.00 to C$63.00 in a research report on Wednesday, April 1st. Finally, TD Securities lowered Rogers Communications from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$58.33.

Rogers Communications Stock Down 0.4%

Rogers Communications stock traded down C$0.23 on Thursday, hitting C$50.98. 970,288 shares of the stock traded hands, compared to its average volume of 1,860,922. 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$27.54 billion, a P/E ratio of 4.00, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96. The business's fifty day simple moving average is C$51.48 and its 200 day simple moving average is C$51.72. Rogers Communications has a 1 year low of C$34.19 and a 1 year high of C$56.27.

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. Rogers' cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.

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