National Bank Financial Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.B) Stock

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target increased by analysts at National Bank Financial from C$60.00 to C$62.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 21.62% from the company’s previous close.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Scotiabank cut their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Canaccord Genuity Group increased their price target on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a report on Thursday. Desjardins cut their price target on Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Finally, TD Securities cut Rogers Communications from a “buy” rating to a “hold” rating and cut their price target for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$58.33.

Rogers Communications Trading Down 0.4%

RCI.B stock traded down C$0.23 during trading on Thursday, hitting C$50.98. The company had a trading volume of 970,288 shares, compared to its average volume of 1,860,922. The business has a 50-day moving average of C$51.48 and a 200-day moving average of C$51.72. Rogers Communications has a one year low of C$34.19 and a one year high of C$56.27. The stock has a market cap of C$27.54 billion, a PE ratio of 4.00, a PEG ratio of 0.32 and a beta of 0.96. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

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.