Canaccord Genuity Group Upgrades Rogers Communications (TSE:RCI.B) to Buy

Canaccord Genuity Group upgraded shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from a hold rating to a buy rating in a report issued on Monday,BayStreet.CA reports. The brokerage currently has C$41.00 price objective on the stock, down from their previous price objective of C$42.00.

Several other equities analysts have also weighed in on RCI.B. Bank of America cut their price objective on shares of Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. National Bankshares reduced their price target on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. TD Securities dropped their price objective on Rogers Communications from C$64.00 to C$62.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, UBS Group reduced their target price on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$56.31.

Rogers Communications Stock Performance

Shares of TSE:RCI.B opened at C$35.23 on Monday. 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 1-year low of C$35.08 and a 1-year high of C$56.55. The stock has a market capitalization of C$14.86 billion, a P/E ratio of 21.61, a P/E/G ratio of 0.32 and a beta of 0.62. The business has a 50-day moving average price of C$39.61 and a two-hundred day moving average price of C$45.79.

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.