Rogers Communications (TSE:RCI.B) Given a C$58.00 Price Target by Desjardins Analysts

Rogers Communications (TSE:RCI.B) (NYSE:RCI) has been assigned a C$58.00 price objective by equities researchers at Desjardins in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective indicates a potential upside of 15.58% from the company’s previous close.

Several other equities analysts have also recently weighed in on RCI.B. Raymond James Financial set a C$68.00 price target on Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 16th. Morgan Stanley lowered their target price on Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. National Bank Financial dropped their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$59.00.

Rogers Communications Price Performance

Shares of RCI.B traded up C$0.24 during midday trading on Monday, hitting C$50.18. 580,526 shares of the company traded hands, compared to its average volume of 1,959,097. The stock has a market cap of C$27.11 billion, a price-to-earnings ratio of 4.40, a PEG ratio of 0.32 and a beta of 0.96. The firm has a 50 day moving average of C$48.65 and a 200-day moving average of C$50.32. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27.

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.