Rogers Communications (TSE:RCI.B) Given New C$57.00 Price Target at Canaccord Genuity Group

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective boosted by Canaccord Genuity Group from C$55.00 to C$57.00 in a research note published on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. TD Securities boosted their price objective on Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Desjardins lowered their price objective on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday, January 12th. Morgan Stanley lifted their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Finally, Barclays increased their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of C$57.13.

Rogers Communications Stock Down 1.2%

RCI.B stock opened at C$51.40 on Friday. The stock has a market cap of C$27.77 billion, a P/E ratio of 4.12, a PEG ratio of 0.32 and a beta of 1.03. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.15. The company’s 50 day moving average is C$51.28 and its two-hundred day moving average is C$50.36.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.