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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid a dividend of 0.3658 per share by the Wireless communications provider on Friday, July 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Monday, June 10th.

Rogers Communications has decreased its dividend payment by an average of 0.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Rogers Communications has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communications to earn $4.07 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 36.1%.

Rogers Communications Trading Down 0.3 %

Shares of RCI stock opened at $38.04 on Friday. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The stock has a market capitalization of $20.11 billion, a P/E ratio of 47.55, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. The company has a 50 day moving average price of $41.83 and a 200 day moving average price of $43.12. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.71%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Equities research analysts predict that Rogers Communications will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCI has been the subject of a number of recent research reports. Barclays decreased their price target on shares of 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 downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

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.