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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$57.40.

Several equities analysts have weighed in on RCI.B shares. Scotiabank raised their target price on 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. National Bankshares increased their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Friday, October 24th. CIBC boosted their target price on Rogers Communications from C$55.00 to C$58.00 in a report on Friday, October 17th. Barclays upped their target price on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of 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.

Rogers Communications Stock Up 0.0%

Rogers Communications stock opened at C$53.86 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.15. The firm’s fifty day simple moving average is C$51.28 and its 200-day simple moving average is C$45.31. The company has a market capitalization of C$29.10 billion, a P/E ratio of 4.32, a P/E/G ratio of 0.32 and a beta of 0.93.

Rogers Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors 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 annualized dividend and a yield of 3.7%. Rogers Communications’s dividend payout ratio 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.