Rogers Communications (TSE:RCI.B) Price Target Increased to C$70.00 by Analysts at BMO Capital Markets

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its target price raised by BMO Capital Markets from C$67.00 to C$70.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other research analysts have also weighed in on the company. Royal Bank of Canada lifted their target price on Rogers Communications from C$65.00 to C$66.00 in a report on Thursday. Cormark dropped their price target on Rogers Communications from C$74.00 to C$72.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on Rogers Communications from C$80.00 to C$69.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Canaccord Genuity Group cut Rogers Communications from a buy rating to a hold rating and lowered their target price for the stock from C$59.00 to C$57.00 in a research note on Thursday, July 25th. Finally, TD Securities cut their price target on shares of Rogers Communications from C$74.00 to C$70.00 and set a buy rating on the stock in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Rogers Communications currently has a consensus rating of Moderate Buy and a consensus price target of C$69.63.

Rogers Communications Trading Up 1.4 %

RCI.B opened at C$54.84 on Thursday. The firm’s fifty day moving average is C$53.84 and its two-hundred day 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 has a twelve month low of C$48.67 and a twelve month high of C$64.71. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd will be paid 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 is currently 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.