Rogers Communication, Inc. (RCI) to Issue Quarterly Dividend of C$0.50 on July 6th

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Tuesday, June 9th will be paid a dividend of 0.50 per share by the Wireless communications provider on Monday, July 6th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 9th.

Rogers Communication has decreased its dividend by an average of 0.0%per year over the last three years. Rogers Communication has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rogers Communication to earn $3.54 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 41.0%.

Rogers Communication Stock Performance

Shares of RCI opened at $37.68 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average price is $36.05 and its 200-day moving average price is $37.23. Rogers Communication has a 52 week low of $26.30 and a 52 week high of $41.14. The stock has a market cap of $20.35 billion, a P/E ratio of 3.97, a P/E/G ratio of 3.31 and a beta of 0.62.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Rogers Communication had a return on equity of 12.11% and a net margin of 32.00%.The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Rogers Communication will post 3.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RCI has been the topic of a number of analyst reports. TD Securities cut Rogers Communication from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Scotiabank raised Rogers Communication from a “hold” rating to an “outperform” rating in a research report on Thursday, April 23rd. Finally, Desjardins reissued a “hold” rating on shares of Rogers Communication in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.