Rogers Communications Inc. (NYSE:RCI) to Issue Quarterly Dividend of $0.36

by · The Cerbat Gem

Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.3611 per share by the Wireless communications provider on Friday, January 3rd. This represents a $1.44 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, December 9th.

Rogers Communications has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Rogers Communications to earn $3.94 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.6%.

Rogers Communications Stock Performance

RCI stock traded down $0.78 during trading on Friday, reaching $37.21. The stock had a trading volume of 578,627 shares, compared to its average volume of 723,354. The stock’s 50 day moving average is $39.78 and its two-hundred day moving average is $38.89. The firm has a market cap of $19.72 billion, a PE ratio of 46.56, a PEG ratio of 1.06 and a beta of 0.67. Rogers Communications has a 52 week low of $35.55 and a 52 week high of $48.19. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last announced its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.33. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, equities analysts anticipate that Rogers Communications will post 3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

RCI has been the topic of several analyst reports. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 target price (down previously from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. BMO Capital Markets lifted their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, TD Securities raised their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

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Rogers Communications Company Profile

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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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