Brokerages Set Rogers Communications Inc. (TSE:RCI.B) Target Price at C$56.69

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$56.31.

Several brokerages have recently issued reports on RCI.B. National Bankshares reduced their target price on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. UBS Group reduced their price objective on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Scotiabank lowered Rogers Communications from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$58.00 to C$50.00 in a research report on Tuesday, April 1st. Finally, Barclays downgraded Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th.

Rogers Communications Price Performance

Rogers Communications stock opened at C$35.23 on Friday. The business’s 50-day simple moving average is C$39.61 and its 200 day simple moving average is C$45.79. 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 stock has a market cap of C$14.86 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 0.32 and a beta of 0.62. Rogers Communications has a 12-month low of C$35.08 and a 12-month high of C$56.55.

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.