Rogers Communications Inc. (TSE:RCI.B) Receives C$69.29 Average Price Target from Analysts

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$69.63.

A number of research analysts recently commented on the company. Cormark lowered their price objective on Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating and decreased their price target for the company from C$59.00 to C$57.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada lifted their target price on Rogers Communications from C$65.00 to C$66.00 in a report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday.

Rogers Communications Price Performance

Shares of RCI.B stock opened at C$54.09 on Tuesday. The firm has a fifty day moving average of C$53.75 and a two-hundred day moving average of C$53.84. The firm has a market cap of C$22.81 billion, a P/E ratio of 33.18, a P/E/G ratio of 0.92 and a beta of 0.62. Rogers Communications has a 1-year low of C$48.67 and a 1-year high of C$64.71. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

Rogers Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 9th. This represents a $2.00 annualized dividend and a yield of 3.70%. Rogers Communications’s payout ratio is presently 122.70%.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.