Rogers Communications (TSE:RCI.B) Price Target Lowered to C$55.00 at CIBC

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price decreased by equities researchers at CIBC from C$76.00 to C$55.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 24.89% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. UBS Group decreased their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday, April 1st. Canaccord Genuity Group raised their price objective on shares of Rogers Communications from C$44.00 to C$47.00 and gave the company a “buy” rating in a research report on Monday, June 9th. TD Securities raised their price objective on shares of Rogers Communications from C$56.00 to C$60.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Royal Bank Of Canada decreased their price objective on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.11.

Rogers Communications Stock Up 0.4%

Shares of Rogers Communications stock opened at C$44.04 on Thursday. The company has a market cap of C$18.57 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company’s 50 day moving average is C$37.25 and its 200 day moving average is C$38.89. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.55. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.