Rogers Communications (TSE:RCI.B) Price Target Raised to C$50.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by Barclays from C$46.00 to C$50.00 in a research note issued to investors on Monday,BayStreet.CA reports. Barclays‘s price target would suggest a potential downside of 5.50% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. National Bankshares raised their target price on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Desjardins raised their price objective on shares of Rogers Communications from C$53.00 to C$56.00 and gave the company a “buy” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. CIBC upped their target price on shares of Rogers Communications from C$55.00 to C$58.00 in a report on Friday, October 17th. Finally, Canaccord Genuity Group raised their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$57.40.

Rogers Communications Stock Performance

Shares of RCI.B traded up C$0.42 during trading hours on Monday, hitting C$52.91. The company’s stock had a trading volume of 386,715 shares, compared to its average volume of 1,964,953. The business has a 50 day simple moving average of C$50.85 and a two-hundred day simple moving average of C$44.73. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$56.15. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The company has a market cap of C$28.58 billion, a price-to-earnings ratio of 4.24, a PEG ratio of 0.32 and a beta of 0.93.

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.