Rogers Communications (TSE:RCI.B) Given New C$48.00 Price Target at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price target hoisted by research analysts at Canaccord Genuity Group from C$47.00 to C$48.00 in a research report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price objective would indicate a potential upside of 7.41% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Scotiabank dropped their price target 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. CIBC decreased their price objective on shares of Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating on the stock in a report on Thursday, July 3rd. BMO Capital Markets increased 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. TD Securities lifted their target price on shares of Rogers Communications from C$56.00 to C$60.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, UBS Group decreased their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Three investment 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 company currently has an average rating of "Moderate Buy" and an average price target of C$54.32.

Rogers Communications Stock Up 1.6%

RCI.B traded up C$0.69 during trading on Thursday, reaching C$44.69. 761,143 shares of the stock were exchanged, compared to its average volume of 1,979,791. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The stock's 50 day moving average price is C$37.75 and its two-hundred day moving average price is C$38.89. The stock has a market cap of C$18.84 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a twelve month low of C$32.42 and a twelve month 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.

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