Rogers Communications Inc. to Issue Quarterly Dividend of $0.40 (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) declared a quarterly dividend on Thursday, April 21st, Wall Street Journal reports. Stockholders of record on Friday, June 10th will be paid a dividend of 0.396 per share by the Wireless communications provider on Monday, July 4th. This represents a $1.58 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, June 9th.

Rogers Communications has a payout ratio of 43.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communications to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.57 annual dividend with an expected future payout ratio of 43.6%.

Shares of RCI traded up $0.94 during mid-day trading on Thursday, hitting $59.42. 356,776 shares of the company’s stock were exchanged, compared to its average volume of 348,894. The firm has a fifty day moving average of $54.70 and a two-hundred day moving average of $50.18. Rogers Communications has a twelve month low of $44.19 and a twelve month high of $64.55. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.83 and a beta of 0.47. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.63.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.09. Rogers Communications had a net margin of 10.62% and a return on equity of 17.45%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business posted $0.61 EPS. Rogers Communications’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Rogers Communications will post 3.12 earnings per share for the current year.

RCI has been the subject of several recent analyst reports. CIBC raised shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 25th. BMO Capital Markets upped their price objective on shares of Rogers Communications from C$76.00 to C$80.00 in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Rogers Communications from C$75.00 to C$77.00 in a report on Thursday. Canaccord Genuity Group upped their price objective on shares of Rogers Communications from C$65.00 to C$69.00 and gave the stock a “hold” rating in a report on Thursday, April 14th. Finally, StockNews.com initiated coverage on shares of Rogers Communications in a report on Thursday, March 31st. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rogers Communications currently has an average rating of “Buy” and a consensus target price of $76.20.

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Rogers Communications by 0.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,095,976 shares of the Wireless communications provider’s stock valued at $146,380,000 after purchasing an additional 15,527 shares during the period. Alliancebernstein L.P. raised its stake in shares of Rogers Communications by 4.5% in the 4th quarter. Alliancebernstein L.P. now owns 28,928 shares of the Wireless communications provider’s stock valued at $1,378,000 after buying an additional 1,247 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Rogers Communications by 9.1% in the 4th quarter. Stifel Financial Corp now owns 25,451 shares of the Wireless communications provider’s stock valued at $1,212,000 after buying an additional 2,132 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Rogers Communications by 4.7% in the 4th quarter. Sei Investments Co. now owns 4,523 shares of the Wireless communications provider’s stock valued at $217,000 after buying an additional 202 shares in the last quarter. 42.50% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Company Profile (Get Rating)

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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

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