Rogers Communications Inc. (RCI) to Issue Quarterly Dividend of $0.48 on January 2nd
Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Thursday, October 19th, RTT News reports. Investors of record on Monday, December 11th will be given a dividend of 0.48 per share by the Wireless communications provider on Tuesday, January 2nd. This represents a $1.92 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, December 8th.
Rogers Communications has decreased its dividend payment by an average of 4.6% per year over the last three years. Rogers Communications has a payout ratio of 70.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communications to earn $3.11 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 61.7%.
Shares of Rogers Communications (NYSE:RCI) opened at $51.57 on Thursday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.38 and a current ratio of 0.41. Rogers Communications has a 1 year low of $37.81 and a 1 year high of $54.95. The firm has a market capitalization of $26,528.16, a P/E ratio of 20.37, a P/E/G ratio of 3.79 and a beta of 0.92.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, October 19th. The Wireless communications provider reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.19). Rogers Communications had a return on equity of 30.40% and a net margin of 9.20%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the firm posted $0.83 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. research analysts predict that Rogers Communications will post 2.72 EPS for the current fiscal year.
Several equities research analysts have commented on RCI shares. Zacks Investment Research raised Rogers Communications from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 24th. TheStreet upgraded Rogers Communications from a “c+” rating to a “b” rating in a research note on Thursday, October 19th. Bank of America began coverage on Rogers Communications in a research note on Tuesday, November 21st. They issued a “buy” rating for the company. Morgan Stanley boosted their price target on Rogers Communications from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday, November 17th. Finally, Barclays upped their price objective on Rogers Communications from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Rogers Communications presently has a consensus rating of “Buy” and a consensus price target of $61.80.
Rogers Communications Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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