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

TD Securities lowered shares of Rogers Communications (TSE:RCI.B) (NYSE:RCI) from a buy rating to a hold rating in a research note published on Thursday morning,BayStreet.CA reports. The brokerage currently has C$56.00 price objective on the stock, down from their prior price objective of C$65.00.

A number of other equities analysts have also weighed in on the company. Canadian Imperial Bank of Commerce lifted their price objective on 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. Canaccord Genuity Group upped their target price on 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. Scotiabank dropped their target price on 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. Morgan Stanley lifted their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Wednesday, December 10th. Finally, Desjardins decreased 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. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$56.34.

Rogers Communications Stock Down 7.9%

TSE:RCI.B opened at C$48.76 on Thursday. 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 company’s fifty day moving average price is C$52.65 and its 200-day moving average price is C$51.94. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.27. The firm has a market capitalization of C$26.34 billion, a P/E ratio of 3.83, a PEG ratio of 0.32 and a beta of 1.13.

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. 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.