BMO Capital Markets Raises Rogers Communications (NYSE:RCI) Price Target to $70.00

Rogers Communications (NYSE:RCI) (TSE:RCI.B) had its target price lifted by BMO Capital Markets from $67.00 to $70.00 in a research note published on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the Wireless communications provider’s stock.

Several other research analysts have also commented on RCI. Canaccord Genuity Group lowered Rogers Communications from a buy rating to a hold rating in a research report on Thursday, July 25th. Canaccord Genuity Group reissued a hold rating and issued a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Rogers Communications from a sell rating to a hold rating in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $61.75.

Rogers Communications Trading Up 1.3 %

RCI opened at $40.36 on Thursday. The firm has a market cap of $21.39 billion, a P/E ratio of 50.45, a P/E/G ratio of 1.06 and a beta of 0.67. Rogers Communications has a 12 month low of $35.55 and a 12 month high of $48.19. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. The stock has a 50-day moving average of $39.47 and a 200 day moving average of $39.35.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.83 by $0.33. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.76 earnings per share. As a group, research analysts forecast that Rogers Communications will post 3.59 EPS for the current year.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio is presently 185.00%.

Institutional Trading of Rogers Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Rogers Communications during the second quarter valued at approximately $37,000. Headlands Technologies LLC bought a new stake in shares of Rogers Communications during the first quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communications by 106.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,445 shares of the Wireless communications provider’s stock valued at $68,000 after acquiring an additional 745 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Rogers Communications during the second quarter valued at approximately $55,000. Institutional investors own 45.49% of the company’s stock.

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 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 and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.