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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$56.04.

RCI.B has been the topic of several recent research reports. TD Securities raised their price objective on Rogers Communications from C$56.00 to C$60.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Rogers Communications from C$53.00 to C$55.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. UBS Group dropped their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Canaccord Genuity Group raised their price objective on shares of Rogers Communications from C$44.00 to C$47.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Scotiabank dropped their target price on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating for the company in a report on Thursday, April 24th.

Rogers Communications Price Performance

Shares of TSE:RCI.B opened at C$39.94 on Thursday. 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 capitalization of C$16.84 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm’s 50 day moving average price is C$36.35 and its 200-day moving average price is C$39.13. Rogers Communications has a twelve month low of C$32.42 and a twelve 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.