Rogers Communications Inc. (NYSE:RCI) Declares $0.36 Quarterly Dividend

Rogers Communications Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.3611 per share by the Wireless communications provider on Friday, January 3rd. This represents a $1.44 annualized dividend and a yield of 3.89%. The ex-dividend date is Monday, December 9th.

Rogers Communications has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Rogers Communications to earn $3.94 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.6%.

Rogers Communications Price Performance

Shares of RCI traded down $0.85 during midday trading on Friday, hitting $37.14. 784,865 shares of the company traded hands, compared to its average volume of 725,321. Rogers Communications has a one year low of $35.55 and a one year high of $48.19. The firm has a market cap of $19.68 billion, a P/E ratio of 46.51, a PEG ratio of 1.06 and a beta of 0.67. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. The stock has a 50-day moving average of $39.78 and a 200-day moving average of $38.89.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.33. The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. As a group, sell-side analysts predict that Rogers Communications will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RCI shares. Canaccord Genuity Group reissued a "hold" rating and set a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. StockNews.com upgraded Rogers Communications from a "sell" rating to a "hold" rating in a research report on Thursday, July 11th. Canaccord Genuity Group cut shares of Rogers Communications from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. BMO Capital Markets lifted their target price on shares of Rogers Communications from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. Finally, TD Securities boosted their price target on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.75.

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.