Canaccord Genuity Group Increases Rogers Communications (TSE:RCI.B) Price Target to C$48.00

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its target price upped by Canaccord Genuity Group from C$47.00 to C$48.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price target suggests a potential upside of 4.76% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada cut their target price on shares of Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets boosted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. National Bankshares boosted their price objective on shares of Rogers Communications from C$52.00 to C$53.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. TD Securities boosted their price objective on shares of Rogers Communications from C$56.00 to C$60.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Scotiabank cut their price objective on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$54.32.

Rogers Communications Trading Up 2.0%

RCI.B traded up C$0.90 during mid-day trading on Thursday, hitting C$45.82. The stock had a trading volume of 2,660,188 shares, compared to its average volume of 1,997,441. The stock's fifty day simple moving average is C$37.94 and its 200-day simple moving average is C$38.89. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm has a market capitalization of C$19.32 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1-year low of C$32.42 and a 1-year 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.