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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Thursday, October 24th,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 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Monday, December 9th.

Rogers Communications has a dividend payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Rogers Communications to earn $3.84 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 37.2%.

Rogers Communications Stock Down 2.7 %

RCI stock opened at $35.15 on Friday. The firm has a market cap of $18.79 billion, a PE ratio of 17.15, a P/E/G ratio of 1.11 and a beta of 0.67. Rogers Communications has a 12 month low of $34.83 and a 12 month high of $48.19. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $37.17 and a 200 day simple moving average of $38.33.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $3.79 billion. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Equities research analysts forecast that Rogers Communications will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RCI has been the topic of several recent analyst reports. TD Securities boosted their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. BMO Capital Markets raised their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications has an average rating of “Moderate Buy” and an average price target 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.