Rogers Communications (TSE:RCI.B) Stock Price Down 3.2%

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s share price was down 3.2% during mid-day trading on Wednesday . The company traded as low as C$53.62 and last traded at C$53.70. Approximately 419,414 shares traded hands during trading, a decline of 72% from the average daily volume of 1,512,081 shares. The stock had previously closed at C$55.49.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RCI.B shares. TD Securities reduced their price objective on shares of Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Cormark lowered their price objective on Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating and cut their target price for the company from C$59.00 to C$57.00 in a research report on Thursday, July 25th. Royal Bank of Canada decreased their price target on Rogers Communications from C$67.00 to C$65.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Finally, BMO Capital Markets increased their price objective on shares of Rogers Communications from C$65.00 to C$67.00 in a research note on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$69.29.

Rogers Communications Price Performance

The business’s fifty day simple moving average is C$53.58 and its 200 day simple moving average is C$53.92. The firm has a market capitalization of C$22.93 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 0.92 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

Rogers Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, October 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 9th. This represents a $2.00 annualized dividend and a yield of 3.68%. Rogers Communications’s dividend payout ratio (DPR) is currently 122.70%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.