Rogers Communications (TSE:RCI.B) Price Target Raised to C$66.00 at Royal Bank of Canada

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price target increased by Royal Bank of Canada from C$65.00 to C$66.00 in a research report released on Thursday, BayStreet.CA reports.

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

Rogers Communications Trading Up 1.4 %

Shares of TSE:RCI.B opened at C$54.84 on Thursday. The stock has a 50 day moving average of C$53.84 and a 200 day moving average of C$53.80. The company 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. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12-month low of C$48.67 and a 12-month high of C$64.71.

Rogers Communications Announces Dividend

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