Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Monday, September 9th will be paid a dividend of 0.365 per share by the Wireless communications provider on Thursday, October 3rd. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, September 9th.
Rogers Communications has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communications to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.47 annual dividend with an expected future payout ratio of 36.7%.
Rogers Communications Stock Performance
Shares of NYSE RCI opened at $37.02 on Thursday. The business has a fifty day simple moving average of $38.13 and a 200 day simple moving average of $41.24. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 1.01 and a beta of 0.68. Rogers Communications has a one year low of $35.55 and a one year high of $48.19.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Barclays dropped their price objective on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a research note on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.50.
Read Our Latest Analysis on RCI
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 company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.
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