Rogers Communications (TSE:RCI.B) Rating Increased to Buy at Canaccord Genuity Group

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

A number of other research analysts have also recently weighed in on the stock. TD Securities reduced their price target on shares of Rogers Communications from C$64.00 to C$62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. National Bankshares decreased their price target on shares of Rogers Communications from C$54.00 to C$53.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Scotiabank cut Rogers Communications from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from C$58.00 to C$50.00 in a research note on Tuesday, April 1st. Barclays downgraded Rogers Communications from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reduced 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 report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$55.77.

Rogers Communications Trading Up 3.2 %

RCI.B stock traded up C$1.05 on Monday, hitting C$33.97. 2,563,208 shares of the company were exchanged, compared to its average volume of 2,279,466. The stock has a market capitalization of C$14.32 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The business's fifty day moving average is C$38.80 and its two-hundred day moving average is C$45.06. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.55. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.