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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, March 10th.

Rogers Communications has a dividend payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communications to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.39 annual dividend with an expected future payout ratio of 38.4%.

Rogers Communications Stock Performance

Shares of RCI stock opened at $27.48 on Friday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.64 and a current ratio of 0.68. The stock has a market cap of $14.69 billion, a PE ratio of 13.40, a P/E/G ratio of 1.07 and a beta of 0.69. Rogers Communications has a 1 year low of $27.45 and a 1 year high of $48.08. The stock has a fifty day moving average price of $31.35 and a 200 day moving average price of $36.11.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. Sell-side analysts forecast that Rogers Communications will post 3.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RCI shares. Bank of America cut Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday, January 21st. Finally, Morgan Stanley began coverage on shares of Rogers Communications in a report on Monday, December 16th. They set an “underweight” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Rogers Communications presently has an average 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.