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 target boosted by Canaccord Genuity Group from C$55.00 to C$58.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 13.77% from the stock’s current price.

A number of other research firms 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 price objective for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Desjardins dropped their price objective 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 price objective on shares of Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Finally, Scotiabank decreased their target price on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a research report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$58.33.

Rogers Communications Stock Performance

Shares of RCI.B stock traded down C$0.23 during trading hours on Thursday, reaching C$50.98. The stock had a trading volume of 970,288 shares, compared to its average volume of 1,860,922. 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 twelve month low of C$34.19 and a twelve month high of C$56.27. The firm has a 50-day simple moving average of C$51.48 and a 200-day simple moving average of C$51.72. The firm has a market capitalization of C$27.54 billion, a PE ratio of 4.00, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96.

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.