Rogers Communications (TSE:RCI.B) Price Target Lowered to C$62.00 at TD Securities

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price trimmed by TD Securities from C$64.00 to C$62.00 in a research report report published on Wednesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada decreased their target price on Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Scotiabank lowered Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$58.00 to C$50.00 in a research report on Tuesday. National Bankshares dropped their target price on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Tuesday. UBS Group reduced their price target on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Finally, Canaccord Genuity Group dropped their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$56.69.

Rogers Communications Price Performance

Shares of RCI.B stock opened at C$36.73 on Wednesday. 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 has a 12-month low of C$35.51 and a 12-month high of C$56.55. The firm has a fifty day moving average of C$39.74 and a 200-day moving average of C$45.99. The firm has a market capitalization of C$15.49 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth 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.