Canaccord Genuity Group Issues Positive Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective boosted by stock analysts at Canaccord Genuity Group from C$44.00 to C$47.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 28.56% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. National Bankshares set a C$52.00 target price on Rogers Communications and gave the stock an “outperform” rating in a report on Friday. Scotiabank cut their price objective on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Rogers Communications from C$53.00 to C$55.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. TD Securities lowered their target price on shares of Rogers Communications from C$60.00 to C$56.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Royal Bank of Canada lowered their target price on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$55.73.

Rogers Communications Trading Up 1.8%

Shares of Rogers Communications stock traded up C$0.64 on Monday, hitting C$36.56. 720,316 shares of the company’s stock traded hands, compared to its average volume of 1,987,693. The firm’s 50-day moving average price is C$35.53 and its two-hundred day moving average price is C$40.15. The stock has a market capitalization of C$15.42 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.55. 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 Company Profile

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.