Rogers Communications Inc. operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers. It also provides Internet and WiFi services; smart home monitoring services, such as monitoring, security, automation, energy efficiency, and smart control through a smartphone app. In addition, the company offers local and network TV; on-demand television; cloud-based digital video recorders; voice-activated remote controls, and integrated apps; personal video recorders; linear and time-shifted programming; digital specialty channels; 4K television programming; and televised content on smartphones, tablets, and personal computers, as well as operates Ignite TV and Ignite TV app. Further, it provides residential and small business local telephony services; calling features, such as voicemail, call waiting, and long distance; voice, data networking, Internet protocol, and Ethernet services; private networking, Internet, IP voice, and cloud solutions; optical wave and multi-protocol label switching services; IT and network technologies; and cable access network services. The company also owns Toronto Blue Jays and the Rogers Centre event venue; and operates Sportsnet ONE, Sportsnet 360, Sportsnet World, Citytv, OMNI, FX (Canada), FXX (Canada), and OLN television networks, as well as 55 AM and FM radio stations. The company was founded in 1960 and is headquartered in Toronto, Canada.
Analyst Ratings Changes
Several analysts have recently commented on the company. Canaccord Genuity Group upgraded Rogers Communications from a "hold" rating to a "buy" rating in a report on Tuesday, June 21st. Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$69.00 to C$68.00 and set a "buy" rating on the stock in a research note on Friday, July 22nd. Scotiabank lifted their price target on shares of Rogers Communications from C$87.00 to C$89.00 in a research report on Thursday, April 21st. Desjardins dropped their target price on shares of Rogers Communications from C$80.00 to C$79.00 in a report on Friday, July 29th. Finally, TheStreet downgraded shares of Rogers Communications from a "b-" rating to a "c+" rating in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rogers Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.67.
Rogers Communications Stock Performance
NYSE:RCI traded down $0.42 during mid-day trading on Thursday, hitting $45.97. The stock had a trading volume of 295,491 shares, compared to its average volume of 366,876. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.54 and a beta of 0.44. The company has a 50 day simple moving average of $46.95 and a 200-day simple moving average of $51.16. Rogers Communications has a 52 week low of $42.94 and a 52 week high of $64.55. The company has a current ratio of 2.49, a quick ratio of 2.43 and a debt-to-equity ratio of 2.85.
Rogers Communications Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a $0.3884 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.55 annualized dividend and a yield of 3.38%. Rogers Communications's dividend payout ratio is presently 61.00%.