Rogers Communications (TSE:RCI.B) Downgraded to “Hold” Rating by TD Securities

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$56.00 target price on the stock, down from their prior target price of C$65.00. TD Securities’ target price points to a potential upside of 14.19% from the stock’s current price.

Several other research analysts also recently issued reports on RCI.B. Scotiabank cut their price objective on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a research report on Tuesday, January 20th. Canaccord Genuity Group increased their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, January 30th. Canadian Imperial Bank of Commerce raised their price target on Rogers Communications from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Desjardins cut their price target on Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Rogers Communications from C$65.00 to C$63.00 in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$56.34.

Rogers Communications Price Performance

Shares of TSE RCI.B traded down C$3.93 on Thursday, hitting C$49.04. The company’s stock had a trading volume of 2,126,278 shares, compared to its average volume of 1,696,992. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$56.27. The company has a market capitalization of C$26.49 billion, a price-to-earnings ratio of 3.85, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. 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 stock has a 50 day moving average of C$52.70 and a 200-day moving average of C$51.97.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.