Rogers Communications (RCI.B) Price Target Lowered to C$74.00 at Royal Bank of Canada

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Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective cut by Royal Bank of Canada from C$76.00 to C$74.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities analysts also recently issued reports about the stock. CIBC lowered their target price on shares of Rogers Communications from C$73.00 to C$72.00 in a report on Monday. TD Securities cut shares of Rogers Communications from an action list buy rating to a buy rating and set a C$85.00 price objective for the company. in a research report on Wednesday, February 6th. Cormark lifted their price objective on shares of Rogers Communications from C$75.00 to C$84.00 in a research report on Friday, January 25th. National Bank Financial raised shares of Rogers Communications from a sector perform rating to an outperform rating and lifted their price objective for the stock from C$71.00 to C$78.00 in a research report on Friday, January 4th. Finally, BMO Capital Markets lifted their price objective on shares of Rogers Communications from C$77.00 to C$78.00 in a research report on Friday, January 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Rogers Communications has a consensus rating of Buy and an average price target of C$75.17.

Shares of RCI.B opened at C$66.31 on Monday. The firm has a market cap of $27.50 billion and a P/E ratio of 17.81. Rogers Communications has a 1-year low of C$55.67 and a 1-year high of C$70.08. The company has a debt-to-equity ratio of 202.44, a quick ratio of 0.55 and a current ratio of 0.72.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.02%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 11th. Rogers Communications’s payout ratio is 51.57%.

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.

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