Rogers Communications (TSE:RCI.B) Price Target Cut to C$63.00

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target lowered by Desjardins from C$68.00 to C$63.00 in a report released on Thursday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on RCI.B. BMO Capital Markets raised their target price on Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday, September 19th. TD Securities decreased their price objective on Rogers Communications from C$74.00 to C$70.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on Rogers Communications from C$65.00 to C$66.00 in a research note on Thursday, September 19th. Cormark decreased their target price on Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group cut Rogers Communications from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$59.00 to C$57.00 in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Rogers Communications has a consensus rating of "Moderate Buy" and a consensus target price of C$68.59.

Rogers Communications Stock Performance

Shares of Rogers Communications stock traded up C$0.77 during trading on Thursday, hitting C$53.34. 1,087,664 shares of the company's stock traded hands, compared to its average volume of 1,509,488. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. Rogers Communications has a 1 year low of C$48.67 and a 1 year high of C$64.71. The stock has a market capitalization of C$22.49 billion, a P/E ratio of 32.39, a PEG ratio of 0.92 and a beta of 0.62. The business has a 50-day simple moving average of C$54.23 and a 200-day simple moving average of C$53.31.

Rogers Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, September 9th. Rogers Communications's payout ratio is 122.70%.

Rogers Communications Company Profile

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.