Canaccord Genuity Group Lowers Rogers Communications (TSE:RCI.B) to Hold

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a C$57.00 price target on the stock, down from their previous price target of C$59.00. Canaccord Genuity Group’s price target suggests a potential upside of 10.83% from the stock’s current price.

Several other research analysts also recently commented on the company. Barclays decreased their price objective on Rogers Communications from C$70.00 to C$63.00 in a report on Tuesday, April 9th. TD Securities lowered their price objective on Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada decreased their target price on shares of Rogers Communications from C$67.00 to C$65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. National Bankshares dropped their price target on shares of Rogers Communications from C$78.00 to C$76.00 and set an “outperform” rating for the company in a research report on Tuesday, April 9th. Finally, Cormark decreased their price objective on shares of Rogers Communications from C$74.00 to C$72.00 in a research report on Thursday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$69.13.

Rogers Communications Trading Up 0.5 %

Shares of RCI.B stock traded up C$0.27 on Thursday, hitting C$51.43. 601,207 shares of the company’s stock traded hands, compared to its average volume of 1,516,512. The stock has a market capitalization of C$21.61 billion, a price-to-earnings ratio of 47.62, a P/E/G ratio of 0.92 and a beta of 0.56. The company’s fifty day simple moving average is C$52.21 and its 200 day simple moving average is C$56.07. Rogers Communications has a one year low of C$48.67 and a one year high of C$64.71. The company has a debt-to-equity ratio of 434.09, a quick ratio of 0.58 and a current ratio of 0.77.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.