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 dropped by TD Securities from C$64.00 to C$62.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 68.89% from the company’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group lowered their price objective on Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday. Canaccord Genuity Group decreased their price target on Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. National Bankshares cut their price objective on Rogers Communications from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America reduced their target price on Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. Finally, Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.14.

Rogers Communications Stock Performance

TSE:RCI.B opened at C$36.71 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. The firm has a market cap of C$15.48 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The firm’s fifty day moving average price is C$39.82 and its 200 day moving average price is C$46.06. Rogers Communications has a 1-year low of C$35.51 and a 1-year high of C$56.55.

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.