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

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

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Rogers Communications from C$50.00 to C$42.00 in a research note on Tuesday. TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and cut their target price for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Desjardins reduced their target price on shares of Rogers Communications from C$59.00 to C$58.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce lifted their price target on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target of C$59.00.

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at C$46.00 on Thursday. Rogers Communications has a 52 week low of C$44.21 and a 52 week high of C$56.27. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$24.85 billion, a PE ratio of 3.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.95. The company’s 50-day moving average price is C$49.93 and its two-hundred day moving average price is C$50.57.

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.