Rogers Communications (TSE:RCI.B) Given New C$55.50 Price Target at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective reduced by equities research analysts at Canaccord Genuity Group from C$57.00 to C$55.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 18.62% from the stock’s previous close.

RCI.B has been the topic of a number of other reports. 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. 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. 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. Morgan Stanley upped their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. Finally, TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their target price for the company from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$56.16.

Rogers Communications Stock Performance

Shares of RCI.B stock traded down C$1.05 on Tuesday, reaching C$46.79. The stock had a trading volume of 982,400 shares, compared to its average volume of 1,746,156. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The firm’s 50-day moving average is C$52.57 and its two-hundred day moving average is C$51.97. The firm has a market capitalization of C$25.28 billion, a price-to-earnings ratio of 3.67, a P/E/G ratio of 0.32 and a beta of 0.96. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.27.

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. 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.