Canaccord Genuity Group Raises Rogers Communications (TSE:RCI.B) Price Target to C$57.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price hoisted by analysts at Canaccord Genuity Group from C$55.00 to C$57.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 11.26% from the stock’s current price.

RCI.B has been the subject of several other reports. TD Securities boosted their target price on shares of Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Morgan Stanley boosted their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Desjardins cut their target price on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a research note on Monday, January 12th. Scotiabank decreased their price target 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. Finally, CIBC lifted their price objective on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$57.13.

Rogers Communications Stock Down 1.5%

Shares of TSE RCI.B traded down C$0.77 during midday trading on Friday, reaching C$51.23. 879,956 shares of the company’s stock were exchanged, compared to its average volume of 1,598,474. The stock has a market capitalization of C$27.68 billion, a PE ratio of 4.11, a price-to-earnings-growth ratio of 0.32 and a beta of 1.03. The business’s fifty day moving average price is C$51.34 and its two-hundred day moving average price is C$50.32. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$56.15. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.