Rogers Communications (TSE:RCI.B) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

by · The Markets Daily

Rogers Communications Inc. (TSE:RCI.B – Get Free Report) (NYSE:RCI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$53.24 and traded as high as C$54.45. Rogers Communications shares last traded at C$52.66, with a volume of 2,362,646 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on RCI.B shares. Cormark dropped their target price on Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating and cut their price objective for the company from C$59.00 to C$57.00 in a report on Thursday, July 25th. TD Securities lowered their target price on shares of Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Desjardins cut their price target on shares of Rogers Communications from C$68.00 to C$63.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, BMO Capital Markets raised their price target on shares of Rogers Communications from C$67.00 to C$70.00 in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average price target of C$68.59.

Check Out Our Latest Report on RCI.B

Rogers Communications Trading Down 2.0 %

The stock has a market cap of C$21.76 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a 50 day moving average of C$54.10 and a two-hundred day moving average of C$53.19.

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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Monday, September 9th. Rogers Communications’s payout ratio is 122.70%.

Rogers Communications Company Profile

(Get Free Report)

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.

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