Rogers Communications (TSE:RCI.B) Given New C$58.00 Price Target at TD Securities

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price objective hoisted by TD Securities from C$57.00 to C$58.00 in a report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently commented on RCI.B. UBS Group reduced their price objective on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Royal Bank Of Canada reduced their price objective on shares of Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Canaccord Genuity Group raised their price target on Rogers Communications from C$48.00 to C$52.00 and gave the company a "buy" rating in a report on Thursday. CIBC lowered their price target 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. Finally, BMO Capital Markets raised their price target on Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of "Moderate Buy" and an average target price of C$53.29.

Rogers Communications Stock Performance

TSE RCI.B traded down C$0.42 during trading on Thursday, hitting C$46.62. 1,231,991 shares of the company's stock traded hands, compared to its average volume of 2,025,450. The stock has a market capitalization of C$19.66 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.55. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The business has a 50 day moving average of C$40.31 and a 200-day moving average of C$38.99.

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.