Desjardins Predicts Lower Earnings for Rogers Communications

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Analysts at Desjardins lowered their Q4 2024 earnings per share estimates for Rogers Communications in a research report issued to clients and investors on Wednesday, October 16th. Desjardins analyst J. Dubreuil now expects that the Wireless communications provider will earn $0.91 per share for the quarter, down from their prior estimate of $0.93. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share.

A number of other brokerages have also weighed in on RCI. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their price objective on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. TD Securities lifted their target price on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $57.00 price target (down previously 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 issued a buy rating to the stock. According to MarketBeat.com, Rogers Communications has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Rogers Communications Stock Up 1.0 %

Shares of RCI opened at $39.07 on Monday. The firm has a fifty day moving average price of $39.84 and a 200-day moving average price of $38.90. 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 $20.71 billion, a P/E ratio of 48.84, 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.

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

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th were given a dividend of $0.365 per share. The ex-dividend date was Monday, September 9th. This represents a $1.46 annualized dividend and a yield of 3.74%. Rogers Communications’s dividend payout ratio (DPR) is presently 185.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Gulf International Bank UK Ltd grew its stake in Rogers Communications by 13.4% in the first quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider’s stock valued at $111,000 after purchasing an additional 322 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Rogers Communications by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,748 shares of the Wireless communications provider’s stock worth $32,215,000 after acquiring an additional 4,745 shares in the last quarter. JTC Employer Solutions Trustee Ltd lifted its position in Rogers Communications by 0.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 98,478 shares of the Wireless communications provider’s stock valued at $4,065,000 after acquiring an additional 807 shares during the last quarter. Vest Financial LLC acquired a new stake in Rogers Communications in the first quarter valued at approximately $369,000. Finally, BNP Paribas Financial Markets grew its holdings in Rogers Communications by 104.6% in the first quarter. BNP Paribas Financial Markets now owns 47,540 shares of the Wireless communications provider’s stock worth $1,949,000 after purchasing an additional 24,309 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

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.