Rogers Communications (TSE:RCI.B) Cut to Hold at TD Securities

TD Securities downgraded shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from a buy rating to a hold rating in a report released on Thursday morning,BayStreet.CA reports. The firm currently has C$56.00 price target on the stock, down from their prior price target of C$65.00.

A number of other equities analysts also recently weighed in on RCI.B. Canaccord Genuity Group boosted their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of Rogers Communications from C$65.00 to C$63.00 in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Rogers Communications from C$46.00 to C$50.00 in a research note on Wednesday, December 10th. Desjardins dropped their target price on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, January 12th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target of C$56.34.

Rogers Communications Stock Performance

Shares of RCI.B opened at C$48.76 on Thursday. Rogers Communications has a 1 year low of C$32.42 and a 1 year high of C$56.27. The stock has a market cap of C$26.34 billion, a PE ratio of 3.83, a PEG ratio of 0.32 and a beta of 1.13. 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 50 day simple moving average of C$52.62 and a 200-day simple moving average of C$51.96.

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.