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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target decreased by CIBC from C$76.00 to C$55.00 in a research report report published on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on RCI.B. UBS Group decreased their price target on Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their target price on Rogers Communications from C$53.00 to C$55.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Canaccord Genuity Group lifted their target price on Rogers Communications from C$44.00 to C$47.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Royal Bank Of Canada cut their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, TD Securities lifted their price objective on shares of Rogers Communications from C$56.00 to C$60.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average price target of C$55.11.

Rogers Communications Trading Up 1.4%

Rogers Communications stock opened at C$43.88 on Thursday. Rogers Communications has a 52-week low of C$32.42 and a 52-week 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. The firm has a market capitalization of C$18.50 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.32 and a beta of 0.62. The firm has a 50-day moving average price of C$37.07 and a two-hundred day moving average price of C$38.90.

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.