Rogers Communication (NYSE:RCI) Price Target Raised to $36.00

Rogers Communication (NYSE:RCIFree Report) (TSE:RCI.B) had its price target lifted by Barclays from $35.00 to $36.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an equal weight rating on the Wireless communications provider’s stock.

RCI has been the subject of several other reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Rogers Communication in a report on Tuesday, January 13th. TD Cowen reiterated a “buy” rating on shares of Rogers Communication in a research report on Monday, December 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Rogers Communication in a research report on Friday, December 26th. Scotiabank restated a “sector perform” rating on shares of Rogers Communication in a research note on Monday, January 12th. Finally, Wall Street Zen upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

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Rogers Communication Stock Up 6.1%

Shares of NYSE:RCI opened at $38.50 on Tuesday. The firm has a market cap of $20.80 billion, a PE ratio of 4.28, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75. The company has a fifty day simple moving average of $37.15 and a 200 day simple moving average of $36.31. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. Rogers Communication has a 12-month low of $23.18 and a 12-month high of $40.26.

Rogers Communication Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, March 10th. Rogers Communication’s dividend payout ratio (DPR) is presently 15.89%.

Hedge Funds Weigh In On Rogers Communication

Several institutional investors have recently modified their holdings of the company. Munich Reinsurance Co Stock Corp in Munich bought a new stake in Rogers Communication in the 4th quarter valued at about $6,397,000. Gold Investment Management Ltd. increased its stake in shares of Rogers Communication by 1.7% in the fourth quarter. Gold Investment Management Ltd. now owns 29,721 shares of the Wireless communications provider’s stock valued at $1,122,000 after purchasing an additional 488 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Rogers Communication by 1.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,446,406 shares of the Wireless communications provider’s stock valued at $92,242,000 after buying an additional 32,872 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rogers Communication by 4.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,735 shares of the Wireless communications provider’s stock worth $6,945,000 after buying an additional 7,787 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. grew its holdings in Rogers Communication by 23.8% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 160,009 shares of the Wireless communications provider’s stock worth $6,048,000 after buying an additional 30,802 shares in the last quarter. Institutional investors own 45.49% of the company’s stock.

Key Rogers Communication News

Here are the key news stories impacting Rogers Communication this week:

Rogers Communication Company Profile

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Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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Analyst Recommendations for Rogers Communication (NYSE:RCI)

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