Canaccord Genuity Group Issues Positive Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by investment analysts at Canaccord Genuity Group from C$55.00 to C$57.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 15.29% from the stock’s current price.

A number of other research firms have also recently issued reports on RCI.B. Barclays boosted their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. JPMorgan Chase & Co. boosted their price target 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. Scotiabank increased their price objective on Rogers Communications from C$57.50 to C$58.00 and gave the stock a “sector perform” rating in a report on Monday. Desjardins reduced their target price on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday. Finally, National Bankshares raised their price target on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus price target of C$56.92.

Rogers Communications Price Performance

RCI.B traded down C$0.96 during trading on Tuesday, reaching C$49.44. The stock had a trading volume of 647,191 shares, compared to its average volume of 1,210,869. The business has a 50-day moving average of C$52.15 and a 200-day moving average of C$49.78. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.15. 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 cap of C$26.71 billion, a PE ratio of 3.96, a PEG 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.