Desjardins Cuts Rogers Communications (TSE:RCI.B) Price Target to C$61.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective cut by Desjardins from C$68.00 to C$61.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on RCI.B. Scotiabank reduced their target price on Rogers Communications from C$69.00 to C$66.50 in a research report on Tuesday. National Bankshares reduced their target price on Rogers Communications from C$77.00 to C$67.00 in a research report on Tuesday, November 12th. BMO Capital Markets boosted their target price on Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their target price on Rogers Communications from C$65.00 to C$66.00 in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$67.14.

Rogers Communications Price Performance

Rogers Communications stock opened at C$50.02 on Thursday. Rogers Communications has a 52 week low of C$48.67 and a 52 week high of C$64.71. The business has a 50-day simple moving average of C$51.99 and a 200 day simple moving average of C$52.77. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock has a market cap of C$21.09 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 0.32 and a beta of 0.62.

Rogers Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, September 9th. Rogers Communications’s payout ratio is currently 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.