Rogers Communications Inc. to Issue Quarterly Dividend of $0.37 (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (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.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Sell-side analysts expect that Rogers Communications will post 3.65 EPS for the current year.

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.

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.