Q3 EPS Estimate for Rogers Communications Lifted by Analyst

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at Desjardins raised their Q3 2024 earnings per share (EPS) estimates for shares of Rogers Communications in a note issued to investors on Wednesday, October 16th. Desjardins analyst J. Dubreuil now expects that the Wireless communications provider will earn $0.94 per share for the quarter, up from their previous forecast of $0.93. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Desjardins also issued estimates for Rogers Communications’ FY2024 earnings at $3.45 EPS and FY2025 earnings at $3.81 EPS.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $0.83 by $0.33. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Rogers Communications had a net margin of 4.28% and a return on equity of 23.15%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS.

RCI has been the subject of several other research reports. BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. TD Securities upped their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $57.00 target price (down from $59.00) on shares of Rogers Communications in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.75.

Rogers Communications Stock Up 1.0 %

NYSE RCI opened at $39.07 on Friday. Rogers Communications has a twelve month low of $35.55 and a twelve month high of $48.19. The stock has a market cap of $20.71 billion, a PE ratio of 48.84, a PEG ratio of 1.06 and a beta of 0.67. The firm has a 50-day simple moving average of $39.84 and a 200 day simple moving average of $38.91. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.60 and a current ratio of 0.65.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. Ridgewood Investments LLC bought a new position in shares of Rogers Communications in the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Rogers Communications by 110.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares in the last quarter. Headlands Technologies LLC bought a new position in Rogers Communications in the 1st quarter valued at $42,000. Grove Bank & Trust increased its stake in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after buying an additional 302 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Rogers Communications during the 2nd quarter worth about $55,000. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th were issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Monday, September 9th. Rogers Communications’s payout ratio is currently 185.00%.

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.