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

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

A number of other research firms have also issued reports on RCI.B. National Bankshares boosted their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. TD Securities increased their price target on shares of Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. CIBC upped their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. increased their target price on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Barclays increased their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$57.13.

Rogers Communications Trading Down 1.5%

RCI.B traded down C$0.77 during trading on Friday, reaching C$51.23. 879,956 shares of the stock traded hands, compared to its average volume of 1,598,474. The stock’s 50-day moving average is C$51.34 and its 200 day moving average is C$50.32. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.15. 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 stock has a market capitalization of C$27.68 billion, a PE ratio of 4.11, a P/E/G ratio of 0.32 and a beta of 1.03.

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.