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 decreased by TD Securities from C$65.00 to C$63.00 in a report published on Thursday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research analysts have also issued reports on the company. Barclays lowered Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from C$63.00 to C$39.00 in a research note on Thursday. Canaccord Genuity Group cut their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective 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. Scotiabank cut their target price on shares of Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Finally, National Bankshares decreased their price target on Rogers Communications from C$62.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$61.08.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$41.46 on Thursday. 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 has a market cap of C$17.48 billion, a PE ratio of 25.44, a PEG ratio of 0.32 and a beta of 0.62. Rogers Communications has a 1 year low of C$39.65 and a 1 year high of C$64.55. The stock has a 50 day simple moving average of C$45.22 and a 200-day simple moving average of C$50.29.

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.