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

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 report report published on Monday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on RCI.B. National Bankshares set a C$59.00 target price on shares of Rogers Communications and gave the company an “outperform” rating in a report on Tuesday, August 12th. TD Securities raised their target price on shares of Rogers Communications from C$57.00 to C$58.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Canaccord Genuity Group raised their target price on shares of Rogers Communications from C$52.00 to C$55.00 and gave the company a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Rogers Communications from C$55.00 to C$59.00 in a research note on Friday, July 25th. Finally, Desjardins lifted their price objective on shares of Rogers Communications from C$51.00 to C$53.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. 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.com, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of C$55.06.

Rogers Communications Trading Down 1.6%

RCI.B stock opened at C$51.39 on Monday. The firm has a fifty day moving average price of C$49.42 and a 200 day moving average price of C$42.78. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$54.45. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The firm has a market cap of C$27.65 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.98.

Rogers Communications Dividend Announcement

The business also recently announced 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 payout ratio is currently 71.68%.

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.