Canaccord Genuity Group Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price reduced by stock analysts at Canaccord Genuity Group from C$58.00 to C$57.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 24.46% from the company’s previous close.

A number of other brokerages have also issued reports on RCI.B. Canadian Imperial Bank of Commerce increased their target price on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. Morgan Stanley dropped their price target on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Raymond James Financial set a C$68.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$65.00 to C$56.00 in a research note on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$59.00.

Rogers Communications Price Performance

Shares of TSE RCI.B opened at C$46.20 on Thursday. Rogers Communications has a fifty-two week low of C$44.21 and a fifty-two week high of C$56.27. The firm’s 50-day simple moving average is C$49.88 and its 200 day simple moving average is C$50.54. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$24.96 billion, a P/E ratio of 4.05, a P/E/G ratio of 0.32 and a beta of 0.95.

More Rogers Communications News

Here are the key news stories impacting Rogers Communications this week:

• Positive Sentiment: TD raised its price target on Rogers Communications to C$65.00 from C$60.00 and kept a buy rating, signaling stronger upside expectations. BayStreet.CA
• Positive Sentiment: Royal Bank of Canada initiated coverage with an outperform rating and a C$60.00 target, also implying meaningful upside from the current share price. BayStreet.CA
• Positive Sentiment: Canaccord Genuity trimmed its target only slightly to C$57.50 from C$58.00 while maintaining a buy rating, which is still a constructive view on the stock. BayStreet.CA
• Neutral Sentiment: Desjardins started coverage with a hold rating and a C$58.00 target, suggesting upside potential but a more cautious stance on near-term performance. BayStreet.CA
• Negative Sentiment: Morgan Stanley reportedly lowered expectations for Rogers Communications’ stock, which may have tempered enthusiasm despite the other upgrades. American Banking News

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. 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.