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.
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.
- Get a free copy of the StockNews.com research report on Rogers Communications (RCI)
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