Rogers Communications (TSE:RCI.B) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$44.48 and traded as high as C$52.96. Rogers Communications shares last traded at C$51.93, with a volume of 1,880,951 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on RCI.B shares. Scotiabank lifted their price objective on shares of Rogers Communications from C$55.75 to C$57.75 and gave the company a “sector perform” rating in a report on Sunday, October 26th. Canaccord Genuity Group lifted 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, October 24th. TD Securities upped their price target on shares of Rogers Communications from C$62.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Desjardins increased their price objective on Rogers Communications from C$53.00 to C$56.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, National Bankshares lifted their price target on shares of Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.48.

Rogers Communications Stock Down 1.1%

The company has a market capitalization of C$28.05 billion, a price-to-earnings ratio of 4.16, a P/E/G ratio of 0.32 and a beta of 0.93. 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 firm’s fifty day moving average price is C$50.78 and its 200-day moving average price is C$44.48.

Rogers Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, September 8th. Rogers Communications’s dividend payout ratio (DPR) is presently 16.04%.

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.