Rogers Communications Inc. (TSE:RCI.B) Receives C$63.25 Average Target Price from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$63.25.

A number of brokerages recently weighed in on RCI.B. TD Securities dropped their price objective on shares of Rogers Communications from C$71.00 to C$65.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Desjardins lowered their price target on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, November 28th. National Bankshares lowered their price target on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Scotiabank lowered their price target on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th.

Rogers Communications Trading Up 0.4 %

Shares of RCI.B stock opened at C$40.83 on Monday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock has a market capitalization of C$17.22 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a 50 day moving average price of C$45.93 and a 200 day moving average price of C$50.53. Rogers Communications has a fifty-two week low of C$39.65 and a fifty-two week high of C$64.55.

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.