Rogers Communications (TSE:RCI.B) Price Target Raised to C$47.00 at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target boosted by research analysts at Canaccord Genuity Group from C$44.00 to C$47.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 26.17% from the company’s previous close.

A number of other research firms have also commented on RCI.B. Royal Bank of Canada reduced their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. UBS Group lowered their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Scotiabank decreased their price objective on shares of Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. National Bankshares set a C$52.00 price objective on shares of Rogers Communications and gave the stock an “outperform” rating in a report on Friday, June 6th. Finally, TD Securities lowered their price objective on shares of Rogers Communications from C$60.00 to C$56.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$55.73.

Rogers Communications Stock Up 2.2%

Rogers Communications stock opened at C$37.25 on Monday. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.55. The firm has a market capitalization of C$15.71 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 0.32 and a beta of 0.62. 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 firm has a 50 day simple moving average of C$35.55 and a 200 day simple moving average of C$39.97.

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.