Rogers Communications Inc. (TSE:RCI.B) Receives C$60.31 Consensus Target Price from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$60.31.

RCI.B has been the subject of several recent analyst reports. Desjardins decreased 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. National Bankshares decreased their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Scotiabank decreased their target price 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. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$40.44 on Tuesday. Rogers Communications has a one year low of C$37.97 and a one year high of C$58.02. The company has a 50-day moving average of C$40.58 and a two-hundred day moving average of C$47.54. The stock has a market cap of C$17.05 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.