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

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

Other equities analysts have also issued research reports about the company. CIBC reduced their price objective on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 3rd. BMO Capital Markets boosted their price objective on Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Scotiabank reduced their price objective on Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, National Bankshares boosted their price objective on Rogers Communications from C$52.00 to C$53.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$54.32.

Rogers Communications Price Performance

RCI.B stock traded up C$0.90 during trading on Thursday, hitting C$45.82. The company had a trading volume of 2,660,188 shares, compared to its average volume of 1,997,441. The company has a fifty day moving average price of C$38.15 and a two-hundred day moving average price of C$38.87. 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 market cap of C$19.32 billion, a P/E ratio of 28.11, a P/E/G ratio of 0.32 and a beta of 0.62. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55.

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.