Rogers Communications (TSE:RCI.B) Price Target Raised to C$62.00 at JPMorgan Chase & Co.

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective hoisted by JPMorgan Chase & Co. from C$59.00 to C$62.00 in a research note released on Tuesday morning,BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. BMO Capital Markets raised their price target on Rogers Communications from C$55.00 to C$57.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. National Bankshares raised their price objective on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Desjardins raised their price objective on Rogers Communications from C$53.00 to C$56.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Scotiabank raised their price objective on Rogers Communications from C$55.75 to C$57.75 and gave the company a “sector perform” rating in a research note on Sunday. Finally, CIBC raised their price objective on Rogers Communications from C$55.00 to C$58.00 in a research note on Friday, October 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and an average price target of C$56.48.

Rogers Communications Stock Up 0.3%

RCI.B opened at C$55.75 on Tuesday. 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 business has a 50 day simple moving average of C$50.12 and a 200-day simple moving average of C$43.62. The stock has a market capitalization of C$30.00 billion, a P/E ratio of 4.47, a P/E/G ratio of 0.32 and a beta of 0.98. Rogers Communications has a 12 month low of C$32.42 and a 12 month high of C$56.15.

Rogers Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. Rogers Communications’s payout ratio is currently 16.04%.

Rogers Communications Company Profile

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.