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

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

A number of other equities research analysts have also recently weighed in on the stock. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Scotiabank cut Rogers Communications from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$58.00 to C$50.00 in a research report on Tuesday. Canaccord Genuity Group reduced their price objective on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a research report on Tuesday. Finally, Royal Bank of Canada reduced 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.29.

Rogers Communications Stock Up 0.1 %

Shares of TSE RCI.B opened at C$36.20 on Wednesday. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1 year low of C$35.51 and a 1 year high of C$56.55. The company has a market capitalization of C$15.26 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The business has a 50-day moving average of C$39.90 and a two-hundred day moving average of C$46.18.

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.