Rogers Communications (TSE:RCI.B) Price Target Raised to C$55.75

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price hoisted by Scotiabank from C$54.25 to C$55.75 in a research note published on Monday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other analysts have also recently commented on the company. National Bankshares set a C$59.00 target price on Rogers Communications and gave the company an “outperform” rating in a report on Tuesday, August 12th. BMO Capital Markets upped their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. TD Securities lifted their price target on shares of Rogers Communications from C$57.00 to C$58.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. CIBC upped their price objective on Rogers Communications from C$55.00 to C$58.00 in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications has an average rating of “Moderate Buy” and a consensus price target of C$55.06.

Rogers Communications Trading Up 0.6%

Shares of RCI.B stock opened at C$52.24 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12-month low of C$32.42 and a 12-month high of C$54.45. The stock has a market capitalization of C$28.11 billion, a P/E ratio of 18.72, a P/E/G ratio of 0.32 and a beta of 0.98. The firm’s 50 day moving average is C$49.60 and its 200 day moving average is C$42.91.

Rogers Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, September 8th. Rogers Communications’s payout ratio is presently 71.68%.

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.