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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by TD Securities from C$63.00 to C$64.00 in a research note published on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on RCI.B. Barclays downgraded shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Desjardins lowered their price target on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, November 28th. Canaccord Genuity Group lowered their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. National Bankshares lowered their price target on shares of 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. Finally, Bank of America lowered their price target on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rogers Communications has an average rating of “Moderate Buy” and a consensus price target of C$60.31.

Rogers Communications Stock Up 1.2 %

RCI.B stock opened at C$40.11 on Thursday. The firm’s fifty day simple moving average is C$43.18 and its 200-day simple moving average is C$49.57. The company has a market capitalization of C$16.91 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 12 month low of C$37.97 and a 12 month high of C$62.05.

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.