Q4 Earnings Forecast for RCI Issued By Cormark

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

Several other analysts also recently commented on RCI. Morgan Stanley initiated coverage on shares of Rogers Communications in a report on Monday, December 16th. They issued an “underweight” rating on the stock. Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a report on Tuesday. Finally, Bank of America lowered Rogers Communications from a “buy” rating to a “neutral” rating in a research note 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of NYSE RCI opened at $28.28 on Wednesday. Rogers Communications has a 52 week low of $27.63 and a 52 week high of $48.19. The business’s 50 day moving average price is $32.65 and its 200 day moving average price is $36.65. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35. The firm has a market cap of $15.12 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.05 and a beta of 0.69.

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

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in Rogers Communications by 9.7% during the second quarter. American Century Companies Inc. now owns 68,679 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 6,099 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rogers Communications by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 604,138 shares of the Wireless communications provider’s stock worth $22,341,000 after buying an additional 33,930 shares during the period. XTX Topco Ltd lifted its position in shares of Rogers Communications by 12.6% during the 2nd quarter. XTX Topco Ltd now owns 16,694 shares of the Wireless communications provider’s stock valued at $617,000 after buying an additional 1,869 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in Rogers Communications by 17.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,717 shares of the Wireless communications provider’s stock valued at $1,364,000 after acquiring an additional 5,300 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Rogers Communications by 53.9% in the 2nd 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 in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $0.3611 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.11%. Rogers Communications’s dividend payout ratio (DPR) is currently 68.78%.

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.