Rogers Communication, Inc. (NYSE:RCI) Plans Quarterly Dividend of C$0.50

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Friday, October 23rd. Stockholders of record on Tuesday, December 8th will be paid a dividend of C$0.50 per share by the Wireless communications provider on Tuesday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Tuesday, December 8th.

Rogers Communication has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rogers Communication to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 44.7%.

Rogers Communication Stock Down 2.4%

Shares of RCI traded down $0.79 during mid-day trading on Friday, hitting $32.41. 1,871,107 shares of the company’s stock were exchanged, compared to its average volume of 1,663,606. The stock’s 50-day moving average is $34.01 and its 200-day moving average is $34.83. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.51 and a current ratio of 0.55. Rogers Communication has a fifty-two week low of $29.25 and a fifty-two week high of $41.14. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 3.91, a P/E/G ratio of 4.18 and a beta of 0.65.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Friday, October 23rd. The Wireless communications provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. On average, sell-side analysts anticipate that Rogers Communication will post 3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RCI has been the subject of a number of recent research reports. TD Securities reiterated a “buy” rating on shares of Rogers Communication in a report on Thursday, July 23rd. Barclays cut their target price on shares of Rogers Communication from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen raised shares of Rogers Communication from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial initiated coverage on shares of Rogers Communication in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings cut shares of Rogers Communication from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Rogers Communication Company Profile

Rogers Communications Inc is a Canadian communications and media company serving consumers, businesses and public-sector organizations across Canada. Its telecommunications operations provide wireless voice and data services, broadband internet, television, home phone and related connectivity products. The company also offers enterprise networking, cybersecurity, cloud and other information technology services.

Rogers operates a portfolio of media and sports properties, including Sportsnet, Citytv and OMNI Television, along with radio stations, digital platforms and publishing operations.