Canaccord Genuity Group Issues Positive Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its target price upped by Canaccord Genuity Group from C$48.00 to C$52.00 in a research report report published on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on RCI.B. Royal Bank Of Canada reduced their price target on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. UBS Group lowered their price objective on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. CIBC lowered their price objective on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating for the company in a report on Thursday, July 3rd. Scotiabank cut their target price on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Finally, Desjardins raised their target price on shares of Rogers Communications from C$45.00 to C$49.00 in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$53.29.

Rogers Communications Stock Performance

RCI.B traded down C$0.42 on Thursday, hitting C$46.62. 1,231,991 shares of the company traded hands, compared to its average volume of 2,025,450. 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 company has a 50 day moving average of C$40.31 and a 200-day moving average of C$38.99. The stock has a market capitalization of C$19.66 billion, a PE ratio of 28.60, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.55.

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.