Published: Sat, October 21, 2017
Business | By Max Garcia

CIBC Increases Rogers Communications Inc. (RCI.B) Price Target to C$67.00

CIBC Increases Rogers Communications Inc. (RCI.B) Price Target to C$67.00

In terms of earnings per share, 11 analysts have a 0.82 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 4 analysts have a 0.75 EPS mean target and for the quarter ending Mar-18 there are 19 estimates of 3.38 EPS. Rogers Communication had a return on equity of 32.10% and a net margin of 9.20%. For the quarter ending Mar-18, 2 analysts have a mean sales target of 3,473.16 million whilst for the year ending Dec-17, 18 analysts have a mean target of 14,188.80 million. During the same period past year, the firm earned $0.83 earnings per share.

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October 20 investment analysts at Barclays held the company rating at "Equal-Weight" and raised the price target from $40.00 to $58.00. TD Securities raised their target price on shares of Rogers Communications from C$72.00 to C$75.00 and gave the company an "action list buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock.

Analysts had on average expected Rogers to earn C$1 a share on revenue of C$3.62 billion, according to Thomson Reuters I/B/E/S.

The stock decreased 0.43% or $0.23 during the last trading session, hitting $56.79. The firm has a market capitalization of $27.29 billion, a PE ratio of 32.05 and a beta of 0.86. The last stock price is up 0.00% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.03% over the same time period. Rogers Communication has a 12 month low of $37.03 and a 12 month high of $53.86.

Its rate of customer turnover, known as churn, was down 10 basis points to 1.16 per cent while average revenue per user (ARPU) increased to $63.78 per month, up $1.48 compared to the same period in 2016. The ex-dividend date is Friday, December 8th. Rogers Communication's dividend payout ratio (DPR) is 81.48%.

Several large investors have recently bought and sold shares of RCI. The firm owned 212,952 shares of the Wireless communications provider's stock after purchasing an additional 33,378 shares during the period.

Canadian telecom company Rogers Communications Inc (RCIb.TO) said on Thursday its third-quarter profit more than doubled as its wireless business kept firing on all cylinders and it sharply increased its full-year profit forecast.

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