Canaccord Genuity Group Forecasts Strong Price Appreciation for Rogers Communications (TSE:RCI.A) Stock

Key Points

• Canaccord Genuity raised Rogers Communications’ price target from C$57.50 to C$59.25 and maintained a “buy” rating, implying approximately 24.79% upside from the reported share price.
• Analyst sentiment remains positive, with four analysts rating the stock a Buy and the consensus rating at “Buy,” alongside an average price target of C$58.81.
• Rogers reported quarterly earnings of C$1.29 per share and revenue of C$5.44 billion. The stock was trading at C$47.48, below its 50-day and 200-day moving averages and within a C$43.00–C$56.72 one-year range.

Rogers Communications (TSE:RCI.A - Get Free Report) had its target price upped by analysts at Canaccord Genuity Group from C$57.50 to C$59.25 in a report issued on Monday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 24.79% from the stock's current price.

A number of other brokerages have also recently weighed in on RCI.A. Scotiabank lowered their price target on Rogers Communications from C$61.00 to C$60.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, October 20th. Desjardins cut their price objective on Rogers Communications from C$58.00 to C$55.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. Four research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Rogers Communications currently has an average rating of "Buy" and an average target price of C$58.81.

Rogers Communications Price Performance

RCI.A traded up C$0.40 during midday trading on Monday, reaching C$47.48. 766 shares of the company's stock were exchanged, compared to its average volume of 1,930. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The business has a 50-day simple moving average of C$48.60 and a two-hundred day simple moving average of C$49.66. The firm has a market capitalization of C$25.65 billion, a price-to-earnings ratio of 4.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06. Rogers Communications has a one year low of C$43.00 and a one year high of C$56.72.

Rogers Communications (TSE:RCI.A - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The company reported C$1.29 earnings per share for the quarter. Rogers Communications had a return on equity of 7.93% and a net margin of 4.30%. The company had revenue of C$5.44 billion for the quarter. As a group, research analysts predict that Rogers Communications will post 5.10 EPS for the current year.

Rogers Communications Company Profile

Rogers is Canada's leading communications and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange NYSE: RCI.

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