Rogers Communications (TSE:RCI.B) PT Set at C$59.00 by Desjardins

Rogers Communications (TSE:RCI.B – Get Free Report) (NYSE:RCI) received a C$59.00 target price from stock analysts at Desjardins in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 18.93% from the company’s current price.

RCI.B has been the subject of several other reports. Canadian Imperial Bank of Commerce boosted their price target 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. Royal Bank Of Canada lifted their price objective on Rogers Communications from C$61.00 to C$63.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their target price on Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. TD raised Rogers Communications from a “hold” rating to a “buy” rating and increased their target price for the stock from C$56.00 to C$60.00 in a report on Thursday, April 23rd. Finally, Canaccord Genuity Group raised their price target on Rogers Communications from C$55.00 to C$58.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.56.

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Rogers Communications Stock Performance

Shares of TSE:RCI.B traded down C$0.87 on Thursday, reaching C$49.61. 790,234 shares of the company’s stock were exchanged, compared to its average volume of 1,895,991. Rogers Communications has a twelve month low of C$39.71 and a twelve month high of C$56.27. The company has a fifty day moving average of C$50.59 and a 200-day moving average of C$51.13. The company has a market capitalization of C$26.80 billion, a price-to-earnings ratio of 3.80, a PEG ratio of 0.32 and a beta of 0.89. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

About Rogers Communications

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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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