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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$60.31.

A number of brokerages have issued reports on RCI.B. Bank of America cut their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. Royal Bank of Canada lowered their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Desjardins reduced their price target on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research report on Thursday, November 28th. Scotiabank reduced their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group reduced their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th.

Rogers Communications Trading Up 0.6 %

Shares of Rogers Communications stock opened at C$40.44 on Tuesday. Rogers Communications has a 1 year low of C$37.97 and a 1 year high of C$58.02. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a market capitalization of C$17.05 billion, a P/E ratio of 24.81, a PEG ratio of 0.32 and a beta of 0.62. The company’s fifty day moving average is C$40.58 and its two-hundred day moving average is C$47.54.

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.