CIBC Issues Positive Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price upped by CIBC from C$58.00 to C$60.00 in a research report released on Tuesday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. National Bankshares boosted their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Scotiabank lifted their target price on Rogers Communications from C$55.75 to C$57.75 and gave the company a “sector perform” rating in a research report on Sunday, October 26th. TD Securities increased their price target on Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Desjardins raised their price objective on Rogers Communications from C$53.00 to C$56.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Canaccord Genuity Group upped their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$57.56.

Rogers Communications Trading Up 0.1%

TSE:RCI.B opened at C$50.69 on Tuesday. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm has a 50-day moving average of C$52.77 and a 200-day moving average of C$47.52. The company has a market cap of C$27.38 billion, a PE ratio of 4.06, a PEG ratio of 0.32 and a beta of 0.88. Rogers Communications has a one year low of C$32.42 and a one year high of C$56.15.

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.