Rogers Communications Inc. (TSE:RCI.B) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$63.25.

RCI.B has been the subject of a number of research analyst reports. TD Securities dropped their price target on Rogers Communications from C$71.00 to C$65.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Desjardins cut their target price on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a research note on Thursday, November 28th. Royal Bank of Canada reduced their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Canaccord Genuity Group lowered their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Finally, National Bankshares reduced their target price on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd.

Rogers Communications Stock Performance

Rogers Communications stock opened at C$40.81 on Monday. The firm has a market cap of C$17.21 billion, a P/E ratio of 25.04, a P/E/G ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1-year low of C$39.65 and a 1-year high of C$64.71. The firm has a 50-day moving average of C$46.69 and a 200-day moving average of C$50.82. 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

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.