Rogers Communications (TSE:RCI.B) Stock Price Down 3.2%

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI's share price was down 3.2% during mid-day trading on Wednesday . The stock traded as low as C$53.62 and last traded at C$53.70. Approximately 419,414 shares traded hands during trading, a decline of 72% from the average daily volume of 1,512,081 shares. The stock had previously closed at C$55.49.

Analyst Ratings Changes

RCI.B has been the topic of a number of research reports. Cormark reduced their price objective on Rogers Communications from C$74.00 to C$72.00 in a research report on Thursday, July 25th. TD Securities decreased their price target on shares of Rogers Communications from C$74.00 to C$70.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Rogers Communications from C$80.00 to C$69.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on Rogers Communications from C$67.00 to C$65.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 9th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$59.00 to C$57.00 in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rogers Communications presently has an average rating of "Moderate Buy" and a consensus target price of C$69.29.

Rogers Communications Trading Down 2.7 %

The firm's 50-day simple moving average is C$53.58 and its 200 day simple moving average is C$53.92. The firm has a market cap of C$22.77 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.00 annualized dividend and a dividend yield of 3.70%. Rogers Communications's payout ratio is 122.70%.

About Rogers Communications

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.