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

Rogers Communications (TSE:RCI.B) (NYSE:RCI) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a research note issued to investors 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’ price target would suggest a potential upside of 14.19% from the company’s current price.

RCI.B has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on Rogers Communications from C$65.00 to C$63.00 in a report on Wednesday. Desjardins dropped their price objective on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce upped their price objective on shares of 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. Canaccord Genuity Group raised 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 research note on Friday, January 30th. Finally, Scotiabank lowered their target price on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus price target of C$56.34.

Rogers Communications Stock Performance

Rogers Communications stock traded down C$3.93 during mid-day trading on Thursday, reaching C$49.04. 2,126,278 shares of the company were exchanged, compared to its average volume of 1,696,992. The firm’s 50-day simple moving average is C$52.70 and its two-hundred day simple moving average is C$51.97. Rogers Communications has a twelve month low of C$32.42 and a twelve month high of C$56.27. The firm has a market cap of C$26.49 billion, a PE 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 quick ratio of 0.58 and a current ratio of 0.65.

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.