Rogers Communications (TSE:RCI.B) Stock Price Expected to Rise, TD Securities Analyst Says

Rogers Communications (TSE:RCI.B - Get Free Report) NYSE: RCI had its price target increased by research analysts at TD Securities from C$63.00 to C$64.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price target indicates a potential upside of 61.01% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. National Bankshares dropped their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Bank of America decreased their target price on Rogers Communications from C$55.00 to C$50.00 in a report on Monday, February 3rd. 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 research report on Thursday, November 28th. Canaccord Genuity Group cut their target price on shares of Rogers Communications from C$55.00 to C$46.00 in a research note on Tuesday, January 7th. Finally, Barclays downgraded shares of Rogers Communications from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from C$63.00 to C$39.00 in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rogers Communications currently has an average rating of "Moderate Buy" and an average price target of C$60.31.

Rogers Communications Stock Down 0.9 %

Shares of TSE RCI.B traded down C$0.36 during mid-day trading on Thursday, hitting C$39.75. The company had a trading volume of 1,469,913 shares, compared to its average volume of 2,188,692. 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 firm has a 50-day simple moving average of C$42.75 and a two-hundred day simple moving average of C$49.38. The company has a market capitalization of C$16.76 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. Rogers Communications has a one year low of C$37.97 and a one year high of C$62.05.

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.