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

Rogers Communications (TSE:RCI.B – Get Free Report) (NYSE:RCI) had its price objective increased by analysts at Scotiabank from C$60.50 to C$61.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 32.26% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and upped their target price for the stock from C$56.00 to C$60.00 in a research note on Thursday, April 23rd. Scotia raised Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Desjardins set a C$59.00 price target on Rogers Communications and gave the stock a “hold” rating in a report on Thursday, June 25th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.88.

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Rogers Communications Stock Performance

Shares of RCI.B traded up C$1.38 during midday trading on Tuesday, reaching C$46.12. 1,238,890 shares of the stock were exchanged, compared to its average volume of 1,929,143. Rogers Communications has a twelve month low of C$43.39 and a twelve month high of C$56.27. The company has a market cap of C$24.92 billion, a P/E ratio of 3.54, a PEG ratio of 0.32 and a beta of 0.95. The stock’s 50 day simple moving average is C$50.68 and its 200 day simple moving average is C$50.97. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

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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.

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