Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Monday, June 10th will be given 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 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% per year over the last three years and has raised its dividend every year for the last 1 years. Rogers Communications has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance
Shares of RCI stock traded down $0.12 during trading on Thursday, reaching $38.04. 895,228 shares of the company’s stock traded hands, compared to its average volume of 573,629. The company has a market capitalization of $20.11 billion, a P/E ratio of 31.31, a PEG ratio of 1.71 and a beta of 0.59. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. The firm’s 50-day moving average is $41.98 and its 200 day moving average is $43.16. Rogers Communications has a 1 year low of $36.55 and a 1 year high of $50.00.
Analysts Set New Price Targets
RCI has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.
Check Out Our Latest Stock Report 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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