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

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its target price raised by Canaccord Genuity Group from C$44.00 to C$47.00 in a research note published on Monday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price objective on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Scotiabank reduced their price objective on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$53.00 to C$55.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. TD Securities reduced their price objective on shares of Rogers Communications from C$60.00 to C$56.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, National Bankshares set a C$52.00 target price on shares of Rogers Communications and gave the stock an "outperform" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Rogers Communications currently has an average rating of "Moderate Buy" and a consensus target price of C$55.73.

Rogers Communications Trading Down 0.7%

Shares of RCI.B stock traded down C$0.26 on Monday, reaching C$36.99. The company had a trading volume of 1,110,831 shares, compared to its average volume of 1,988,080. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.55. The stock has a market cap of C$15.60 billion, a PE ratio of 22.69, a PEG ratio of 0.32 and a beta of 0.62. 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 company has a 50-day moving average of C$35.55 and a 200-day moving average of C$39.97.

About Rogers Communications

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.