Rogers Communications (TSE:RCI.B) Price Target Raised to C$64.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price lifted by TD Securities from C$63.00 to C$64.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 58.93% from the company’s previous close.

Several other research analysts also recently weighed in on RCI.B. Desjardins dropped their target price 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. Royal Bank of Canada dropped their price objective on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Scotiabank cut their price objective 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. Finally, Bank of America lowered their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy 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$60.31.

Rogers Communications Stock Performance

Rogers Communications stock traded up C$0.62 during trading on Thursday, reaching C$40.27. The company had a trading volume of 547,088 shares, compared to its average volume of 2,186,740. The firm’s 50-day simple moving average is C$43.18 and its 200 day simple moving average is C$49.57. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 52 week low of C$37.97 and a 52 week high of C$62.05. The firm has a market capitalization of C$16.98 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62.

Rogers Communications Company Profile

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.