BMO Capital Markets Raises Rogers Communications (TSE:RCI.B) Price Target to C$70.00

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 research note released on Thursday, BayStreet.CA reports.

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

Rogers Communications Price Performance

Shares of Rogers Communications stock opened at C$54.84 on Thursday. The stock has a market capitalization of C$23.12 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 0.92 and a beta of 0.62. The firm’s 50-day moving average price is C$53.84 and its two-hundred day moving average price is C$53.80. 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 1-year low of C$48.67 and a 1-year high of C$64.71.

Rogers Communications Announces Dividend

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