Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target increased by Canadian Imperial Bank of Commerce from C$61.00 to C$62.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 21.62% from the stock’s previous close.

RCI.B has been the topic of a number of other reports. Scotiabank cut their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Canaccord Genuity Group lifted their price target on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday, April 1st. National Bank Financial lifted their price target on Rogers Communications from C$60.00 to C$62.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Desjardins cut their price target on Rogers Communications from C$55.00 to C$54.50 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of C$58.33.

Rogers Communications Trading Down 0.4%

RCI.B traded down C$0.23 during trading on Thursday, hitting C$50.98. 970,288 shares of the stock were exchanged, compared to its average volume of 1,860,922. The firm has a 50 day simple moving average of C$51.48 and a 200 day simple moving average of C$51.72. The firm has a market cap of C$27.54 billion, a price-to-earnings ratio of 4.00, a P/E/G ratio of 0.32 and a beta of 0.96. Rogers Communications has a 1 year low of C$34.19 and a 1 year high of C$56.27. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.