Rogers Communications Inc. to Post FY2024 Earnings of $3.37 Per Share, National Bank Financial Forecasts (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Analysts at National Bank Financial lifted their FY2024 EPS estimates for Rogers Communications in a research report issued on Wednesday, April 24th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will post earnings of $3.37 per share for the year, up from their prior estimate of $3.36. The consensus estimate for Rogers Communications’ current full-year earnings is $3.53 per share.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion.

Other equities analysts also recently issued reports about the stock. Barclays decreased their price target on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.00.

Rogers Communications Price Performance

NYSE:RCI opened at $37.47 on Monday. Rogers Communications has a one year low of $36.55 and a one year high of $50.00. The company has a market cap of $19.80 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.66 and a beta of 0.59. The firm’s fifty day moving average price is $41.36 and its two-hundred day moving average price is $43.15. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Monday, June 10th. Rogers Communications’s dividend payout ratio is presently 183.75%.

Institutional Trading of Rogers Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in Rogers Communications by 317.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock valued at $1,301,000 after purchasing an additional 25,766 shares during the period. Qube Research & Technologies Ltd grew its position in Rogers Communications by 101.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after purchasing an additional 66,231 shares during the period. Invesco Ltd. grew its position in Rogers Communications by 13.7% in the 3rd quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock valued at $7,689,000 after purchasing an additional 24,178 shares during the period. Cumberland Partners Ltd grew its position in Rogers Communications by 3.4% in the 4th quarter. Cumberland Partners Ltd now owns 718,261 shares of the Wireless communications provider’s stock valued at $33,622,000 after purchasing an additional 23,774 shares during the period. Finally, Scotia Capital Inc. grew its position in Rogers Communications by 9.3% in the 3rd quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock valued at $100,617,000 after purchasing an additional 224,293 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.