Rogers Communications Inc. (RCI) To Go Ex-Dividend on March 8th

Rogers Communications Inc. (NYSE:RCIGet Free Report) (TSE:RCI.B) announced a quarterly dividend on Friday, February 2nd, Wall Street Journal reports. Investors of record on Monday, March 11th will be paid a dividend of 0.3742 per share by the Wireless communications provider on Wednesday, April 3rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, March 8th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.36.

Rogers Communications has decreased its dividend payment by an average of 0.9% annually over the last three years. Rogers Communications has a dividend payout ratio of 36.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communications to earn $4.30 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 34.4%.

Rogers Communications Trading Down 1.3 %

Shares of NYSE:RCI opened at $43.83 on Wednesday. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 1.33 and a beta of 0.60. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00. The company’s fifty day simple moving average is $46.33 and its 200 day simple moving average is $42.94. 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:RCIGet Free Report) (TSE:RCI.B) last released its earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. As a group, research analysts forecast that Rogers Communications will post 3.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RCI. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. StockNews.com downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th. Finally, Barclays decreased their price objective on shares of Rogers Communications from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Read Our Latest Research Report on RCI

Institutional Trading of Rogers Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in shares of Rogers Communications during the 1st quarter worth about $237,000. Creative Planning acquired a new stake in Rogers Communications in the 4th quarter worth about $235,000. Virtu Financial LLC acquired a new stake in Rogers Communications in the 4th quarter worth about $233,000. Bridgefront Capital LLC acquired a new stake in Rogers Communications in the 2nd quarter worth about $228,000. Finally, Blueshift Asset Management LLC acquired a new stake in Rogers Communications in the 2nd quarter worth about $215,000. Institutional investors own 44.25% of the company’s stock.

About Rogers Communications

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Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.

See Also

Dividend History for Rogers Communications (NYSE:RCI)

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