TD Securities Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target reduced by equities research analysts at TD Securities from C$65.00 to C$63.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 57.82% from the company’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Canaccord Genuity Group lowered their price target on Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Barclays cut Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from C$63.00 to C$39.00 in a research report on Thursday. Desjardins lowered their target price on Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, November 28th. Finally, Scotiabank cut their price target on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average target price of C$61.08.

Rogers Communications Stock Down 3.7 %

Shares of Rogers Communications stock opened at C$39.92 on Thursday. Rogers Communications has a 12-month low of C$39.65 and a 12-month high of C$64.55. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock has a 50 day moving average price of C$45.07 and a two-hundred day moving average price of C$50.23. The stock has a market capitalization of C$16.83 billion, a P/E ratio of 24.49, a PEG ratio of 0.32 and a beta of 0.62.

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.