Rogers Communications Inc. (NYSE:RCI) Plans $0.37 Quarterly Dividend

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Monday, June 10th will be paid 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% annually over the last three years and has increased its dividend annually for the last 1 consecutive 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 Down 0.3 %

RCI traded down $0.12 on Thursday, reaching $38.04. The company’s stock had a trading volume of 895,228 shares, compared to its average volume of 573,629. The stock has a 50 day moving average of $41.98 and a two-hundred day moving average of $43.16. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 1.71 and a beta of 0.59. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. As a group, analysts forecast that Rogers Communications will post 3.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RCI shares. Barclays lowered their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.00.

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.