Rogers Communications (TSE:RCI.B) Given New C$60.00 Price Target at TD Securities

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target boosted by TD Securities from C$56.00 to C$60.00 in a research note released on Tuesday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Scotiabank reduced their target price on Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Canaccord Genuity Group lifted their target price on Rogers Communications from C$44.00 to C$47.00 and gave the company a "buy" rating in a report on Monday, June 9th. UBS Group reduced their target price on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Royal Bank Of Canada reduced their target price on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, National Bankshares set a C$52.00 target price on Rogers Communications and gave the company an "outperform" rating in a report on Friday, June 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$56.04.

Rogers Communications Price Performance

Rogers Communications stock traded down C$0.07 during mid-day trading on Tuesday, hitting C$39.94. 2,459,533 shares of the company were exchanged, compared to its average volume of 1,965,068. The company has a market capitalization of C$16.84 billion, a P/E ratio of 24.50, a PEG ratio of 0.32 and a beta of 0.62. 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 12-month low of C$32.42 and a 12-month high of C$56.55. The business's 50 day simple moving average is C$36.35 and its two-hundred day simple moving average is C$39.13.

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.