Rogers Communications Inc. (NYSE:RCI – Get Free Report) (TSE:RCI.B) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.3611 per share by the Wireless communications provider on Friday, January 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Monday, December 9th.
Rogers Communications has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Rogers Communications to earn $3.94 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 37.6%.
Rogers Communications Trading Down 2.2 %
Rogers Communications stock opened at $37.14 on Friday. The firm has a 50 day moving average of $39.78 and a 200 day moving average of $38.89. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 46.43, a P/E/G ratio of 1.06 and a beta of 0.67. Rogers Communications has a 12-month low of $35.55 and a 12-month high of $48.19.
Analysts Set New Price Targets
RCI has been the subject of a number of analyst reports. TD Securities upped their price objective on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Canaccord Genuity Group downgraded Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and a consensus target price of $61.75.
Check Out Our Latest Stock Analysis on RCI
Rogers Communications Company Profile
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.
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