Rogers Communications (TSE:RCI.B) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$46.96 and traded as high as C$54.81. Rogers Communications shares last traded at C$54.08, with a volume of 1,281,106 shares traded.

Analyst Upgrades and Downgrades

RCI.B has been the subject of a number of research analyst reports. TD Securities upped their target price on Rogers Communications from C$62.00 to C$64.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. boosted their price objective on Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Barclays upped their price objective on Rogers Communications from C$46.00 to C$50.00 in a report on Monday, November 10th. Canaccord Genuity Group lifted their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, Scotiabank boosted their price target on shares of Rogers Communications from C$55.75 to C$57.75 and gave the stock a “sector perform” rating in a research report on Sunday, October 26th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of C$57.40.

Rogers Communications Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$29.22 billion, a price-to-earnings ratio of 4.34, a PEG ratio of 0.32 and a beta of 0.93. The stock’s fifty day moving average is C$52.49 and its 200-day moving average is C$46.96.

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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, September 8th. Rogers Communications’s dividend payout ratio (DPR) 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.