Rogers Communications (TSE:RCI.B) Price Target Raised to C$58.00 at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective raised by equities researchers at Canaccord Genuity Group from C$55.00 to C$58.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 13.77% from the company’s previous close.

A number of other analysts have also recently weighed in on RCI.B. TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Desjardins dropped their target price on shares of Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Finally, Scotiabank dropped their target price on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$58.33.

Rogers Communications Stock Down 0.4%

TSE RCI.B traded down C$0.23 during trading hours on Thursday, reaching C$50.98. 970,288 shares of the company traded hands, compared to its average volume of 1,860,922. Rogers Communications has a 12 month low of C$34.19 and a 12 month high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a market capitalization of C$27.54 billion, a PE ratio of 4.00, a PEG ratio of 0.32 and a beta of 0.96. The company has a 50 day moving average of C$51.48 and a two-hundred day moving average of C$51.72.

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. 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.