Rogers Communications Inc. (RCI) To Go Ex-Dividend on June 10th

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Monday, June 10th will be paid a dividend of 0.3658 per share by the Wireless communications provider on Friday, July 5th. This represents a $1.46 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Monday, June 10th.

Rogers Communications has decreased its dividend payment by an average of 0.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Rogers Communications has a dividend payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rogers Communications to earn $4.07 per share next year, which means the company should continue to be able to cover its $1.47 annual dividend with an expected future payout ratio of 36.1%.

Rogers Communications Trading Down 0.2 %

Shares of NYSE RCI opened at $37.95 on Friday. The stock’s 50 day moving average price is $41.67 and its two-hundred day moving average price is $43.12. Rogers Communications has a 52-week low of $36.55 and a 52-week high of $50.00. The stock has a market capitalization of $20.06 billion, a P/E ratio of 47.44, a PEG ratio of 1.65 and a beta of 0.59. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Rogers Communications had a return on equity of 21.71% and a net margin of 2.90%. On average, analysts anticipate that Rogers Communications will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RCI has been the subject of several recent research reports. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays lowered their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.00.

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.