Rogers Communications (TSE:RCI.B) Given New C$55.50 Price Target at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target cut by Canaccord Genuity Group from C$57.00 to C$55.50 in a research report report published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also commented on RCI.B. Scotiabank lowered their price target on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Canadian Imperial Bank of Commerce increased their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. lowered their price target on shares of Rogers Communications from C$65.00 to C$63.00 in a research report on Wednesday, April 1st. Desjardins lowered their price target on shares of Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a research report on Tuesday. Finally, TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price target for the company from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.16.

Rogers Communications Stock Down 3.4%

RCI.B opened at C$46.19 on Tuesday. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.27. The company has a market cap of C$24.95 billion, a price-to-earnings ratio of 3.63, a PEG ratio of 0.32 and a beta of 0.96. 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 business’s fifty day moving average is C$52.50 and its two-hundred day moving average is C$51.96.

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.