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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price lowered by equities researchers at TD Securities from C$64.00 to C$62.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 73.38% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. National Bankshares lowered their target price on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research note on Tuesday. Canaccord Genuity Group cut their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Scotiabank cut shares of Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$58.00 to C$50.00 in a report on Tuesday. Finally, Barclays lowered shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from C$63.00 to C$39.00 in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$59.29.

Rogers Communications Trading Down 1.1 %

RCI.B traded down C$0.41 during trading hours on Wednesday, reaching C$35.76. 937,315 shares of the company’s stock traded hands, compared to its average volume of 2,137,526. The firm has a 50-day moving average price of C$39.98 and a 200 day moving average price of C$46.32. The firm has a market capitalization of C$15.08 billion, a PE ratio of 21.94, a PEG ratio of 0.32 and a beta of 0.62. 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 52-week low of C$35.51 and a 52-week high of C$56.55.

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.