Rogers Communications (TSE:RCI.B) Price Target Raised to C$44.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target upped by investment analysts at Canaccord Genuity Group from C$41.00 to C$44.00 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 would suggest a potential upside of 26.11% from the company’s previous close.

RCI.B has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on Rogers Communications from C$57.00 to C$53.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Scotiabank reduced their price objective on Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating on the stock in a research note on Thursday. TD Securities decreased their price objective on Rogers Communications from C$60.00 to C$56.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group cut their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Finally, Royal Bank of Canada decreased their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$55.35.

Rogers Communications Stock Performance

RCI.B opened at C$34.89 on Thursday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock has a market capitalization of C$14.71 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.32 and a beta of 0.62. The company has a fifty day moving average of C$37.94 and a 200 day moving average of C$43.70. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55.

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.