Rogers Communications (TSE:RCI.B) Price Target Lowered to C$63.00 at TD Securities

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price reduced by TD Securities from C$65.00 to C$63.00 in a research report released on Thursday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other equities analysts also recently commented on RCI.B. Royal Bank of Canada dropped their price objective on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. National Bankshares decreased their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Barclays downgraded shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$63.00 to C$39.00 in a report on Thursday. Canaccord Genuity Group decreased their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Finally, Scotiabank cut their target price on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$61.08.

Rogers Communications Stock Performance

Shares of RCI.B stock opened at C$41.46 on Thursday. Rogers Communications has a fifty-two week low of C$39.65 and a fifty-two week high of C$64.55. The stock’s 50-day moving average is C$45.22 and its two-hundred day moving average is C$50.29. 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 market cap of C$17.48 billion, a P/E ratio of 25.44, a PEG ratio of 0.32 and a beta of 0.62.

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.