Q4 Earnings Forecast for RCI Issued By Cormark

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Equities research analysts at Cormark issued their Q4 2024 EPS estimates for Rogers Communications in a research report issued on Tuesday, January 21st. Cormark analyst D. Mcfadgen expects that the Wireless communications provider will post earnings per share of $0.96 for the quarter. The consensus estimate for Rogers Communications’ current full-year earnings is $3.47 per share.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share.

Several other research firms have also weighed in on RCI. Morgan Stanley initiated coverage on Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays restated an “equal weight” rating on shares of Rogers Communications in a report on Tuesday. Finally, Bank of America downgraded shares of Rogers Communications from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.75.

Rogers Communications Stock Performance

RCI opened at $28.10 on Wednesday. Rogers Communications has a 1-year low of $27.63 and a 1-year high of $48.19. The stock has a market cap of $15.02 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.05 and a beta of 0.69. The stock’s 50 day simple moving average is $32.50 and its 200 day simple moving average is $36.59. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.68 and a quick ratio of 0.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Rogers Communications by 10.2% during the second quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock worth $390,738,000 after buying an additional 974,937 shares in the last quarter. Toronto Dominion Bank boosted its position in Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. National Bank of Canada FI grew its stake in Rogers Communications by 18.6% in the 3rd quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after acquiring an additional 977,924 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Rogers Communications by 371.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock valued at $203,334,000 after acquiring an additional 3,980,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Rogers Communications by 90.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock worth $115,775,000 after purchasing an additional 1,375,043 shares during the period. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

About Rogers Communications

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.