Rogers Communications Inc. (TSE:RCI.B) Receives C$69.29 Consensus Price Target from Brokerages

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$69.63.

Several research analysts recently weighed in on RCI.B shares. BMO Capital Markets boosted their target price on shares of Rogers Communications from C$67.00 to C$70.00 in a research note on Thursday. TD Securities cut 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. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$59.00 to C$57.00 in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on shares of Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their price target on Rogers Communications from C$65.00 to C$66.00 in a report on Thursday.

Rogers Communications Stock Performance

TSE:RCI.B opened at C$54.09 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The company has a market capitalization of C$22.81 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. The firm has a 50-day moving average price of C$53.75 and a two-hundred day moving average price of C$53.84. Rogers Communications has a twelve month low of C$48.67 and a twelve month high of C$64.71.

Rogers Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.70%. Rogers Communications’s dividend payout ratio is currently 122.70%.

About Rogers Communications

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.