Rogers Communications (TSE:RCI.B) PT Set at C$58.00 by Desjardins

Rogers Communications (TSE:RCI.B – Get Free Report) (NYSE:RCI) has been assigned a C$58.00 price objective by research analysts at Desjardins in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price would suggest a potential upside of 25.05% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Morgan Stanley reduced their price target on Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday. TD Securities downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Raymond James Financial set a C$68.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a research report on Thursday, July 16th. National Bank Financial reduced their target price on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of 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. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$59.00.

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Rogers Communications Stock Up 0.0%

Shares of TSE RCI.B traded up C$0.02 during mid-day trading on Thursday, reaching C$46.38. 1,087,573 shares of the company were exchanged, compared to its average volume of 1,952,730. The stock has a market cap of C$25.06 billion, a price-to-earnings ratio of 3.56, a P/E/G ratio of 0.32 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The firm has a 50-day moving average of C$49.99 and a 200 day moving average of C$50.61. Rogers Communications has a 1 year low of C$44.21 and a 1 year high of C$56.27.

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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