Canaccord Genuity Group Increases Rogers Communications (TSE:RCI.B) Price Target to C$48.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective upped by stock analysts at Canaccord Genuity Group from C$47.00 to C$48.00 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 4.76% from the company’s current price.

Other analysts also recently issued reports about the company. Scotiabank decreased their price objective on Rogers Communications from C$49.50 to C$48.50 and set a “sector perform” rating for the company in a report on Thursday, April 24th. TD Securities raised their price target on shares of Rogers Communications from C$56.00 to C$60.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. BMO Capital Markets lifted their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada cut their target price on 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. Finally, UBS Group dropped their price objective on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$54.32.

Rogers Communications Stock Up 2.0%

Shares of RCI.B opened at C$45.82 on Thursday. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$56.55. The stock has a market capitalization of C$19.32 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 0.32 and a beta of 0.62. 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 fifty day moving average of C$38.15 and a 200-day moving average of C$38.91.

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.