Rogers Communications (TSE:RCI.B) Price Target Raised to C$64.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price hoisted by TD Securities from C$62.00 to C$64.00 in a research report released on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on RCI.B. BMO Capital Markets lifted their target price on 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. National Bankshares set a C$59.00 target price on Rogers Communications and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Desjardins lifted their target price on Rogers Communications from C$51.00 to C$53.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lifted their target price on Rogers Communications from C$55.00 to C$59.00 in a research note on Friday, July 25th. Finally, CIBC lifted their target price on Rogers Communications from C$55.00 to C$58.00 in a research note on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.23.

Rogers Communications Stock Performance

RCI.B stock opened at C$55.05 on Friday. The business has a 50-day moving average price of C$49.84 and a 200 day moving average price of C$43.31. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$55.12. 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 company has a market capitalization of C$29.62 billion, a P/E ratio of 4.41, a PEG ratio of 0.32 and a beta of 0.98.

Rogers Communications Dividend Announcement

The firm 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. The ex-dividend date was Monday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. Rogers Communications’s payout ratio is presently 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.