Rogers Communications Inc. (TSE:RCI.B) Receives Average Rating of “Moderate Buy” from Brokerages

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$54.27.

RCI.B has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. National Bankshares set a C$59.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Desjardins lifted their target price on Rogers Communications from C$49.00 to C$51.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, TD Securities increased their price target on Rogers Communications from C$57.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday, July 24th.

Rogers Communications Price Performance

RCI.B stock opened at C$48.56 on Friday. The stock’s fifty day simple moving average is C$48.32 and its 200-day simple moving average is C$41.66. Rogers Communications has a 52-week low of C$32.42 and a 52-week high of C$54.45. The stock has a market capitalization of C$26.23 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.32 and a beta of 1.02. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd will be given a $0.50 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 4.1%. Rogers Communications’s dividend payout ratio (DPR) 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.