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 objective cut by research analysts at Canaccord Genuity Group from C$57.00 to C$55.50 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 18.62% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Desjardins lowered their target price on shares of Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a report on Tuesday. Morgan Stanley raised their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a report on Wednesday, December 10th. JPMorgan Chase & Co. lowered their target price on shares of Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. Canadian Imperial Bank of Commerce raised their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Finally, TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$56.16.

Rogers Communications Stock Performance

Rogers Communications stock traded down C$1.05 during trading hours on Tuesday, hitting C$46.79. The company had a trading volume of 982,400 shares, compared to its average volume of 1,746,156. The firm has a market cap of C$25.28 billion, a PE ratio of 3.67, a PEG ratio of 0.32 and a beta of 0.96. 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 one year low of C$32.42 and a one year high of C$56.27. The firm has a 50-day moving average of C$52.57 and a 200 day moving average of C$51.97.

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.