TD Securities Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

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

A number of other equities analysts also recently commented on RCI.B. Scotiabank downgraded Rogers Communications from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$58.00 to C$50.00 in a research report on Tuesday. National Bankshares lowered their price target on shares of Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a report on Tuesday. UBS Group reduced their price objective on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Canaccord Genuity Group decreased their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada dropped their target price 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$59.29.

Rogers Communications Stock Down 1.1 %

TSE:RCI.B traded down C$0.41 during midday trading on Wednesday, reaching C$35.76. The company had a trading volume of 937,315 shares, compared to its average volume of 2,137,526. Rogers Communications has a 12-month low of C$35.51 and a 12-month high of C$56.55. The firm has a market capitalization of C$15.08 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 0.32 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock’s fifty day simple moving average is C$39.98 and its 200-day simple moving average is C$46.32.

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.