Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price lifted by research analysts at Canaccord Genuity Group from C$48.00 to C$52.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 10.54% from the company’s current price.

RCI.B has been the subject of a number of other research reports. National Bankshares increased their price target on Rogers Communications from C$52.00 to C$53.00 and gave the company an “outperform” rating in a report on Monday, June 30th. TD Securities increased their target price on Rogers Communications from C$56.00 to C$60.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. CIBC decreased their price target on shares of Rogers Communications from C$76.00 to C$55.00 and set an “outperform” rating for the company in a research report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of Rogers Communications from C$53.00 to C$55.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada reduced their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$53.29.

Rogers Communications Trading Down 0.0%

Shares of RCI.B opened at C$47.04 on Thursday. The stock’s 50-day moving average is C$40.31 and its two-hundred day moving average is C$39.05. The stock has a market cap of C$19.83 billion, a PE ratio of 28.86, a P/E/G ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.55.

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.