Analysts Set Rogers Communications Inc. (TSE:RCI.B) PT at C$56.90

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$57.73.

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. National Bankshares raised their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Canaccord Genuity Group upped their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Morgan Stanley increased their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Finally, Scotiabank decreased 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 report on Tuesday, January 20th.

Rogers Communications Trading Down 1.1%

Shares of RCI.B opened at C$50.32 on Friday. The firm has a market capitalization of C$27.18 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 0.32 and a beta of 1.07. 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 1-year low of C$32.42 and a 1-year high of C$56.15. The company has a 50-day moving average of C$50.98 and a 200 day moving average of C$50.50.

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.