Rogers Communications Inc. (NYSE:RCI) Declares $0.35 Quarterly Dividend

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.347 per share by the Wireless communications provider on Wednesday, April 2nd. This represents a $1.39 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, March 10th.

Rogers Communications has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communications to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.39 annual dividend with an expected future payout ratio of 38.4%.

Rogers Communications Stock Down 4.0 %

Shares of RCI traded down $1.14 during mid-day trading on Friday, reaching $27.48. 1,537,339 shares of the stock traded hands, compared to its average volume of 1,026,491. The stock has a fifty day simple moving average of $31.51 and a 200 day simple moving average of $36.19. Rogers Communications has a 12-month low of $27.45 and a 12-month high of $48.08. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.07 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Sell-side analysts expect that Rogers Communications will post 3.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on RCI. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating on the stock. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Finally, Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.75.

About Rogers Communications

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.