Rogers Communications (TSE:RCI.B) Price Target Raised to C$58.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lifted by Scotiabank from C$57.50 to C$58.00 in a research report released on Monday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

RCI.B has been the topic of a number of other reports. National Bankshares boosted their price target on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Desjardins dropped their target price on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday. JPMorgan Chase & Co. upped their price target on Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Canaccord Genuity Group raised their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Finally, TD Securities boosted their price objective on shares of Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$56.92.

Rogers Communications Trading Up 1.2%

RCI.B opened at C$50.09 on Monday. The firm’s fifty day simple moving average is C$52.02 and its 200 day simple moving average is C$49.85. The stock has a market capitalization of C$27.06 billion, a P/E ratio of 4.02, a P/E/G ratio of 0.32 and a beta of 1.03. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.15.

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.