Canaccord Genuity Group Cuts Rogers Communications (TSE:RCI.B) Price Target to C$57.50

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target cut by Canaccord Genuity Group from C$58.00 to C$57.50 in a research note released on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on RCI.B. JPMorgan Chase & Co. boosted their target price on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Scotia upgraded shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. National Bank Financial dropped their price objective on Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average target price of C$59.00.

Rogers Communications Price Performance

RCI.B opened at C$46.20 on Thursday. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. The firm has a 50-day moving average of C$49.88 and a 200 day moving average of C$50.54. 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 firm has a market cap of C$24.96 billion, a P/E ratio of 4.05, a PEG ratio of 0.32 and a beta of 0.95.

Rogers Communications News Roundup

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

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.