Brokerages Set Rogers Communications Inc. (TSE:RCI.B) Target Price at C$53.79

Key Points

• Rogers Communications Inc. has received a consensus recommendation of "Moderate Buy" from ten research firms, with eight analysts recommending a buy and two a hold.
• The average one-year price target for the stock is estimated at C$53.79, with recent target adjustments ranging from C$49.00 to C$59.00 by various analysts.
• As the largest wireless service provider in Canada, Rogers Communications accounts for one third of the market with over 10 million subscribers, and its wireless business constituted 60% of total sales in 2021.

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have received an average rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$53.79.

A number of equities analysts have weighed in on RCI.B shares. Canaccord Genuity Group boosted their target price on shares of Rogers Communications from C$48.00 to C$52.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their target price on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. CIBC lowered their target price on shares of Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating for the company in a report on Thursday, July 3rd. Desjardins raised their price objective on shares of Rogers Communications from C$49.00 to C$51.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, TD Securities lifted their price target on shares of Rogers Communications from C$57.00 to C$58.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th.

Rogers Communications Stock Performance

RCI.B traded up C$0.27 during trading hours on Tuesday, hitting C$49.27. The company's stock had a trading volume of 1,605,306 shares, compared to its average volume of 1,960,293. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. 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 firm has a market capitalization of C$26.62 billion, a PE ratio of 17.66, a PEG ratio of 0.32 and a beta of 1.02. The company has a 50-day simple moving average of C$46.14 and a 200 day simple moving average of C$40.37.

Rogers Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, October 3rd will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.1%. Rogers Communications's payout ratio is 71.68%.

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.