Rogers Communications (TSE:RCI.B) Shares Climb 3.8% – Still a Buy?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s share price traded up 3.8% on Friday. The stock traded as high as C$45.74 and last traded at C$45.68. Approximately 1,193,037 shares traded hands during trading, a decline of 42% from the average session volume of 2,065,245 shares. The stock had previously closed at C$43.99.

Analyst Ratings Changes

RCI.B has been the subject of a number of recent analyst reports. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price for the company in a research report on Monday, September 14th. Canaccord Genuity Group decreased their price target on Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Raymond James Financial set a C$68.00 price objective on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Morgan Stanley lowered their target price on Rogers Communications from C$50.00 to C$42.00 in a report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$58.77.

Rogers Communications Trading Up 3.1%

The firm has a market cap of C$24.50 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.32 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The company has a 50-day moving average price of C$47.12 and a 200 day moving average price of C$49.53.

Rogers Communications Company Profile

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.