Rogers Communications Inc. (TSE:RCI.B) Receives C$55.06 Average PT from Analysts

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$56.48.

RCI.B has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price target on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. National Bankshares raised their price target on Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Scotiabank raised their price target on Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a research report on Sunday. Desjardins raised their price target 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, CIBC raised their price target on Rogers Communications from C$55.00 to C$58.00 in a research report on Friday, October 17th.

Rogers Communications Stock Up 0.3%

Shares of TSE RCI.B opened at C$55.75 on Wednesday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$56.15. The stock has a market capitalization of C$30.00 billion, a P/E ratio of 4.47, a PEG ratio of 0.32 and a beta of 0.98. The stock’s fifty day moving average is C$50.12 and its 200 day moving average is C$43.62.

Rogers Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, October 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.00 annualized dividend and a yield of 3.6%. Rogers Communications’s dividend payout ratio (DPR) is 16.04%.

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.