Desjardins Has Negative Outlook for TSE:RCI FY2024 Earnings

Rogers Communications (TSE:RCI) – Equities researchers at Desjardins dropped their FY2024 earnings estimates for shares of Rogers Communications in a note issued to investors on Wednesday, October 16th. Desjardins analyst J. Dubreuil now expects that the company will post earnings per share of $4.66 for the year, down from their previous forecast of $4.70. Desjardins also issued estimates for Rogers Communications’ Q4 2024 earnings at $1.23 EPS.

Separately, Canaccord Genuity Group downgraded Rogers Communications from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th.

Rogers Communications Stock Performance

Rogers Communications (TSE:RCI) last posted its earnings results on Wednesday, July 24th. The company reported C$1.16 earnings per share for the quarter, topping the consensus estimate of C$1.12 by C$0.04. The firm had revenue of C$5.09 billion during the quarter, compared to analyst estimates of C$5.11 billion.

Rogers Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend was Monday, September 9th.