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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target raised by research analysts at Canaccord Genuity Group from C$44.00 to C$47.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 28.56% from the stock’s current price.

RCI.B has been the subject of several other reports. UBS Group reduced their price objective on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. National Bankshares set a C$52.00 price objective on Rogers Communications and gave the stock an “outperform” rating in a research note on Friday. Scotiabank reduced their price objective on Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price objective on Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, TD Securities reduced their price objective on Rogers Communications from C$60.00 to C$56.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$55.73.

Rogers Communications Stock Performance

RCI.B stock traded up C$0.64 on Monday, hitting C$36.56. The company had a trading volume of 720,316 shares, compared to its average volume of 1,987,693. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.55. 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’s 50-day simple moving average is C$35.53 and its 200 day simple moving average is C$40.15. The stock has a market cap of C$15.42 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 0.32 and a beta of 0.62.

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.