Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,530,000 shares, an increase of 18.4% from the October 15th total of 4,670,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 380,300 shares, the short-interest ratio is currently 14.5 days.
Rogers Communications Stock Performance
Shares of NYSE:RCI opened at $42.23 on Wednesday. The business’s fifty day moving average price is $39.28 and its two-hundred day moving average price is $42.59. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.16. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.31 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.90 and a quick ratio of 0.85.
Rogers Communications Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, December 7th. Rogers Communications’s dividend payout ratio (DPR) is 100.00%.
Institutional Trading of Rogers Communications
Wall Street Analysts Forecast Growth
Several research analysts have commented on RCI shares. Royal Bank of Canada raised Rogers Communications from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 15th. TheStreet downgraded Rogers Communications from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.69.
About Rogers Communications
Rogers Communications Inc operates as a communications and media company in North America. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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