Rogers Communications Inc. (NYSE:RCI) Plans $0.35 Quarterly Dividend

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Monday, March 10th will be given a dividend of 0.347 per share by the Wireless communications provider on Wednesday, April 2nd. This represents a $1.39 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, March 10th.

Rogers Communications has a payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Rogers Communications to earn $3.62 per share next year, which means the company should continue to be able to cover its $1.39 annual dividend with an expected future payout ratio of 38.4%.

Rogers Communications Stock Performance

NYSE RCI traded down $1.14 on Friday, hitting $27.48. The stock had a trading volume of 1,537,339 shares, compared to its average volume of 1,026,491. The company’s 50-day moving average is $31.51 and its two-hundred day moving average is $36.19. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.07 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. Rogers Communications has a one year low of $27.45 and a one year high of $48.08.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its earnings results on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. On average, analysts expect that Rogers Communications will post 3.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating on the stock. Barclays restated an “equal weight” rating on shares of Rogers Communications in a research report on Tuesday, January 21st. Finally, Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.