Royal Bank Of Canada Reiterates C$60.00 Price Target for Rogers Communications (TSE:RCI.B)

Key Points

• Royal Bank of Canada reiterated an outperform rating on Rogers Communications and kept its C$60.00 price target, implying about 29% upside from the current share price.
• Other analysts remain broadly constructive on the stock, with several raising targets and ratings; MarketBeat says Rogers currently has an average rating of Moderate Buy and an average price target of C$59.00.
• Rogers shares were trading around C$46.38 on Thursday, near the lower end of their 52-week range, while the company continues to be valued at a low P/E ratio of 3.56.

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI received a C$60.00 price target from research analysts at Royal Bank Of Canada in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 29.37% from the stock's current price.

Several other analysts have also recently weighed in on the company. Scotia raised Rogers Communications from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Scotiabank raised their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 7th. National Bank Financial lowered their price target on shares of Rogers Communications from C$63.00 to C$62.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Raymond James Financial set a C$68.00 price target on shares of Rogers Communications and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an "outperformer" rating in a research note on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Rogers Communications presently has an average rating of "Moderate Buy" and an average price target of C$59.00.

Rogers Communications Trading Up 0.0%

Shares of RCI.B stock traded up C$0.02 on Thursday, reaching C$46.38. 1,087,573 shares of the stock were exchanged, compared to its average volume of 1,952,730. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a one year low of C$44.21 and a one year high of C$56.27. The stock has a market cap of C$25.06 billion, a PE ratio of 3.56, a P/E/G ratio of 0.32 and a beta of 0.95. The stock has a 50 day moving average price of C$49.99 and a 200 day moving average price of C$50.61.

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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