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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target lowered by TD Securities from C$65.00 to C$63.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 50.47% from the stock’s previous close.

A number of other research firms also recently weighed in on RCI.B. Barclays downgraded Rogers Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday. 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. Scotiabank decreased their price target 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. Desjardins reduced their price objective on shares of Rogers Communications from C$68.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday, November 28th. Finally, Canaccord Genuity Group lowered their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$61.08.

Rogers Communications Stock Up 1.0 %

TSE:RCI.B traded up C$0.41 during trading hours on Thursday, reaching C$41.87. The company had a trading volume of 612,556 shares, compared to its average volume of 1,860,437. Rogers Communications has a twelve month low of C$39.65 and a twelve 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 firm has a market cap of C$17.65 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 0.32 and a beta of 0.62. The business’s 50-day simple moving average is C$45.22 and its two-hundred day simple moving average is C$50.29.

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.