Rogers Communications (TSE:RCI.B) Given a C$58.00 Price Target by Desjardins Analysts

Rogers Communications (TSE:RCI.B) (NYSE:RCI) received a C$58.00 target price from equities researchers at Desjardins in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential upside of 15.58% from the company’s current price.

A number of other brokerages have also weighed in on RCI.B. TD increased their price objective on Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Canaccord Genuity Group cut their price target on Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. National Bank Financial reduced their price objective on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Scotiabank boosted their price objective on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their target price on Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Stock Up 0.5%

TSE RCI.B traded up C$0.24 during trading on Monday, hitting C$50.18. The company’s stock had a trading volume of 580,526 shares, compared to its average volume of 1,959,097. The company has a market cap of C$27.11 billion, a PE ratio of 4.40, a P/E/G ratio of 0.32 and a beta of 0.96. 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 business’s 50 day simple moving average is C$48.65 and its 200-day simple moving average is C$50.32. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27.

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.