Rogers Communications (TSE:RCI.B) Price Target Raised to C$66.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target increased by equities researchers at Royal Bank of Canada from C$65.00 to C$66.00 in a note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 20.35% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$59.00 to C$57.00 in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on shares of Rogers Communications from C$65.00 to C$67.00 in a research note on Thursday, September 5th. Cormark dropped their price objective on shares of Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. TD Securities dropped their price objective on shares of Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$69.63.

Rogers Communications Stock Performance

Shares of TSE:RCI.B opened at C$54.84 on Thursday. Rogers Communications has a 52 week low of C$48.67 and a 52 week high of C$64.71. The stock has a market capitalization of C$23.12 billion, a P/E ratio of 33.64, a PEG ratio of 0.92 and a beta of 0.62. The firm has a fifty day simple moving average of C$53.84 and a two-hundred day simple moving average of C$53.80. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.