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 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.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Equities research analysts expect that Rogers Communications will post 3.57 EPS for the current year.

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.

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.