Rogers Communications Inc. (NYSE:RCI) Declares Quarterly Dividend of $0.35

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Friday, January 31st, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.347 per share by the Wireless communications provider on Wednesday, April 2nd. This represents a $1.39 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Monday, March 10th.

Rogers Communications has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communications to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 36.6%.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $28.38 on Friday. Rogers Communications has a 1-year low of $26.57 and a 1-year high of $44.38. The business has a 50-day moving average of $28.57 and a 200-day moving average of $34.26. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.43 and a beta of 0.68.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. On average, equities analysts anticipate that Rogers Communications will post 3.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley assumed coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating for the company. Barclays reissued an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.75.

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.