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

Key Points

• Rogers Communications Inc. has received an average rating of "Moderate Buy" from ten research firms, with eight analysts issuing buy ratings and two holding ratings.
• The company declared a quarterly dividend of $0.50 per share, which reflects an annualized yield of 4.0% with a payout ratio of 71.68%.
• Rogers Communications, the largest wireless service provider in Canada, has a market cap of C$26.85 billion and its wireless segment accounted for 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 research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$54.27.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Rogers Communications from C$55.00 to C$59.00 in a research note on Friday, July 25th. TD Securities lifted their price objective on shares of Rogers Communications from C$57.00 to C$58.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted 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 report on Wednesday, July 2nd. CIBC cut 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 research note on Thursday, July 3rd. Finally, Scotiabank lifted their price target on shares of Rogers Communications from C$51.50 to C$54.26 and gave the company a "sector perform" rating in a report on Monday, September 8th.

Rogers Communications Price Performance

TSE:RCI.B opened at C$49.70 on Friday. The business's 50-day simple moving average is C$48.18 and its two-hundred day simple moving average is C$41.48. Rogers Communications has a 52 week low of C$32.42 and a 52 week high of C$54.59. The stock has a market cap of C$26.85 billion, a PE ratio of 17.81, a P/E/G ratio of 0.32 and a beta of 1.02. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Announces Dividend

The company also recently declared 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 of this dividend is Monday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 4.0%. Rogers Communications's dividend payout ratio is presently 71.68%.

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.

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