Rogers Communications Inc. (TSE:RCI.B) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Three 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 analysts that have issued a report on the stock in the last year is C$58.69.

RCI.B has been the subject of several research analyst reports. Desjardins set a C$59.00 price target on Rogers Communications and gave the stock a “hold” rating in a research note on Thursday, June 25th. TD raised Rogers Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. TD Securities lowered Rogers Communications from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. JPMorgan Chase & Co. boosted their target price on Rogers Communications from C$63.00 to C$65.00 in a report on Monday, April 27th. Finally, Royal Bank Of Canada increased their target price on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd.

Rogers Communications Trading Up 0.5%

Shares of RCI.B opened at C$45.08 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The firm has a market capitalization of C$24.35 billion, a P/E ratio of 3.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89. The stock’s fifty day simple moving average is C$50.68 and its 200 day simple moving average is C$50.97. Rogers Communications has a twelve month low of C$43.39 and a twelve month high of C$56.27.

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.