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

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

A number of other research firms have also weighed in on RCI.B. Canaccord Genuity Group lowered Rogers Communications from a buy rating to a hold rating and dropped their price objective for the company from C$59.00 to C$57.00 in a research note on Thursday, July 25th. Cormark dropped their price objective on Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. TD Securities dropped their price target 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. 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, BMO Capital Markets raised their price target on Rogers Communications from C$65.00 to C$67.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Rogers Communications has an average rating of Moderate Buy and an average target price of C$69.63.

Rogers Communications Stock Up 1.4 %

Shares of TSE RCI.B opened at C$54.84 on Thursday. Rogers Communications has a one year low of C$48.67 and a one year high of C$64.71. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The firm’s 50 day simple moving average is C$53.84 and its two-hundred day simple moving average is C$53.80. The stock has a market capitalization of C$23.12 billion, a P/E ratio of 33.64, a PEG ratio of 0.92 and a beta of 0.62.

Rogers Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, October 3rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is 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.