Rogers Communications (TSE:RCI.B) Price Target Lowered to C$63.00 at Desjardins

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective decreased by Desjardins from C$68.00 to C$63.00 in a research note published on Thursday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets raised their target price on Rogers Communications from C$67.00 to C$70.00 in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced their price objective on shares of Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$59.00 to C$57.00 in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of Rogers Communications from C$65.00 to C$66.00 in a research note on Thursday, September 19th. Finally, Cormark decreased their price target on shares of Rogers Communications from C$74.00 to C$72.00 in a research report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$68.59.

Rogers Communications Stock Performance

RCI.B opened at C$53.34 on Thursday. Rogers Communications has a 1-year low of C$48.67 and a 1-year high of C$64.71. The company has a market capitalization of C$22.49 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. The business has a 50 day moving average price of C$54.21 and a two-hundred day moving average price of C$53.29. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.00 annualized dividend and a dividend yield of 3.75%. Rogers Communications’s dividend payout ratio (DPR) is presently 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.