Rogers Communication, Inc. (RCI) Announces $0.48 Quarterly Dividend
Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Thursday, August 17th, RTT News reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.48 per share by the Wireless communications provider on Tuesday, October 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.78%.
Rogers Communication has decreased its dividend payment by an average of 4.6% per year over the last three years. Rogers Communication has a payout ratio of 52.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communication to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 48.3%.
Rogers Communication (NYSE:RCI) traded down 1.15% during mid-day trading on Thursday, reaching $50.82. 219,739 shares of the company’s stock were exchanged. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of 31.72 and a beta of 0.86. The stock has a 50-day moving average of $50.10 and a 200-day moving average of $46.07. Rogers Communication has a 12 month low of $37.03 and a 12 month high of $53.07.
Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Thursday, July 20th. The Wireless communications provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.59 billion. Rogers Communication had a net margin of 7.42% and a return on equity of 28.90%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Analysts anticipate that Rogers Communication will post $2.69 earnings per share for the current year.
Several research firms have recently issued reports on RCI. BidaskClub raised shares of Rogers Communication from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised shares of Rogers Communication from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Wednesday, July 12th. Finally, Canaccord Genuity set a $66.00 price target on shares of Rogers Communication and gave the company a “buy” rating in a research note on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.67.
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Rogers Communication 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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