Rogers Communications (TSE:RCI.B) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) shares 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 trading hands.

Wall Street Analysts Forecast Growth

RCI.B has been the subject of a number of research analyst reports. Desjardins reduced their target price on shares of Rogers Communications from C$68.00 to C$63.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. 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 dropped their target price on Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets upped their price target on Rogers Communications from C$67.00 to C$70.00 in a research report on Thursday, September 19th. Finally, Royal Bank of Canada increased their target price on shares of Rogers Communications from C$65.00 to C$66.00 in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$68.59.

Rogers Communications Price Performance

The stock has a market capitalization of C$22.20 billion, a P/E ratio of 32.31, 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 current ratio of 0.65 and a quick ratio of 0.58. The company’s 50-day simple moving average is C$54.19 and its 200-day simple moving average is C$53.24.

Rogers Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.80%. 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.