Rogers Communications (TSE:RCI.B) Price Target Raised to C$66.00

by · The Markets Daily

Rogers Communications (TSE:RCI.B – Free Report) (NYSE:RCI) had its price target hoisted by Royal Bank of Canada from C$65.00 to C$66.00 in a research note published on Thursday, BayStreet.CA reports.

Several other brokerages have also recently issued reports on RCI.B. BMO Capital Markets upped their price objective on Rogers Communications from C$65.00 to C$67.00 in a research note on Thursday, September 5th. 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. JPMorgan Chase & Co. dropped their price objective on shares of Rogers Communications from C$80.00 to C$69.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Cormark lowered their price target on shares of Rogers Communications from C$74.00 to C$72.00 in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a buy rating to a hold rating and dropped their price target for the company from C$59.00 to C$57.00 in a research note on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$69.63.

Get Our Latest Stock Analysis on RCI.B

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at C$54.84 on Thursday. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 1 year low of C$48.67 and a 1 year high of C$64.71. The firm’s 50-day simple moving average is C$53.84 and its 200-day simple moving average is C$53.80. The firm has a market cap of C$23.12 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62.

Rogers Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, October 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 9th. This represents a $2.00 annualized dividend and a yield of 3.65%. Rogers Communications’s payout ratio is 122.70%.

About Rogers Communications

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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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