Rogers Communication, Inc. (RCI) to Distribute Quarterly Dividend of C$0.50 on October 2nd

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, September 8th will be given a dividend of 0.50 per share by the Wireless communications provider on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th.

Rogers Communication has decreased its dividend payment by an average of 0.0%per year over the last three years. Rogers Communication has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rogers Communication to earn $3.50 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 41.4%.

Rogers Communication Price Performance

NYSE RCI opened at $32.66 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $17.64 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 4.00 and a beta of 0.64. Rogers Communication has a 12-month low of $31.38 and a 12-month high of $41.14. The company has a 50 day moving average price of $35.65 and a two-hundred day moving average price of $36.59.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.41%. Rogers Communication’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, equities analysts predict that Rogers Communication will post 3.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RCI shares. Desjardins reiterated a “hold” rating on shares of Rogers Communication in a report on Thursday, April 23rd. Scotiabank restated an “outperform” rating on shares of Rogers Communication in a report on Tuesday, July 7th. Barclays reduced their price target on Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Raymond James Financial assumed coverage on Rogers Communication in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rogers Communication in a research note on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company Profile

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.