Rogers Communications (TSE:RCI.B) Trading Up 10.7% - Here's Why

Key Points

• Shares jumped ~10.7% intraday to C$49.93 (high C$50.28) on Wednesday, with volume of about 2.62M shares — roughly 44% above the average daily volume.
• Analyst sentiment is mixed but leans positive: five Buy and three Hold ratings, a MarketBeat average of "Moderate Buy" and an average price target of C$56.38, though several firms recently trimmed targets.
• Key fundamentals and risks: Rogers has very high leverage (debt-to-equity 436.50) and low liquidity (current ratio 0.65, quick ratio 0.58), a low P/E of 3.94, and its wireless segment generates ~60% of sales with >10M subscribers (~one-third of the Canadian market).

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI was up 10.7% during mid-day trading on Wednesday . The company traded as high as C$50.28 and last traded at C$49.93. Approximately 2,621,341 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 1,817,957 shares. The stock had previously closed at C$45.10.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RCI.B shares. Scotiabank decreased their target price on Rogers Communications from C$58.00 to C$57.75 and set a "sector perform" rating on the stock in a report on Tuesday, January 20th. TD Securities cut Rogers Communications from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Canaccord Genuity Group decreased their target price on Rogers Communications from C$57.00 to C$55.50 and set a "buy" rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Finally, Desjardins decreased their target price on Rogers Communications from C$55.00 to C$54.50 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$56.38.

Rogers Communications Stock Up 11.3%

The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm has a market cap of C$27.11 billion, a PE ratio of 3.94, a P/E/G ratio of 0.32 and a beta of 0.96. The business has a fifty day moving average price of C$51.48 and a two-hundred day moving average price of C$51.72.

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. 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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