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

Key Points

• Rogers Communications Inc. has received a consensus rating of “Moderate Buy” from ten analysts, with eight analysts issuing buy recommendations and two holding.
• The average 12-month target price for the stock is C$55.06, with CIBC and TD Securities both raising their targets to C$58.00.
• The company recently declared a quarterly dividend of $0.50, representing an annualized yield of 3.9% and a dividend payout ratio of 71.68%.

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI have been given a consensus rating of "Moderate Buy" by the ten analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$55.06.

A number of equities research analysts have commented on the company. CIBC raised their target price on Rogers Communications from C$55.00 to C$58.00 in a report on Friday, October 17th. BMO Capital Markets raised their target price on Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. TD Securities raised their target price on Rogers Communications from C$57.00 to C$58.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Desjardins raised their target price on Rogers Communications from C$51.00 to C$53.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Finally, Canaccord Genuity Group raised their target price on Rogers Communications from C$52.00 to C$55.00 and gave the company a "buy" rating in a report on Thursday, October 9th.

Rogers Communications Price Performance

Rogers Communications stock opened at C$51.91 on Wednesday. Rogers Communications has a one year low of C$32.42 and a one year high of C$54.45. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The business has a fifty day moving average of C$49.52 and a two-hundred day moving average of C$42.84. The company has a market cap of C$27.93 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.98.

Rogers Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were given a $0.50 dividend. The ex-dividend date was Monday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. Rogers Communications's dividend payout ratio (DPR) is currently 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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