Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, Desjardins Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price raised by stock analysts at Desjardins from C$54.50 to C$59.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective would indicate a potential upside of 15.73% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group boosted their target price on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research report on Thursday. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from C$57.75 to C$60.50 in a research report on Thursday. TD Securities lowered Rogers Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. National Bank Financial boosted their target price on Rogers Communications from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Rogers Communications from C$65.00 to C$63.00 in a research report on Wednesday, April 1st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.33.

Rogers Communications Stock Performance

TSE:RCI.B traded down C$0.23 during mid-day trading on Thursday, reaching C$50.98. The company’s stock had a trading volume of 970,288 shares, compared to its average volume of 1,860,922. Rogers Communications has a 12-month low of C$34.19 and a 12-month high of C$56.27. The firm’s fifty day moving average price is C$51.48 and its two-hundred day moving average price is C$51.72. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$27.54 billion, a P/E ratio of 4.00, a PEG ratio of 0.32 and a beta of 0.96.

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.