Analysts Offer Predictions for Rogers Communications Inc.’s FY2024 Earnings (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Investment analysts at Cormark reduced their FY2024 earnings per share estimates for shares of Rogers Communications in a research note issued on Thursday, July 25th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings per share of $3.64 for the year, down from their previous estimate of $3.96. The consensus estimate for Rogers Communications’ current full-year earnings is $3.58 per share. Cormark also issued estimates for Rogers Communications’ FY2025 earnings at $3.92 EPS.

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

A number of other research firms also recently issued reports on RCI. Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 price target (down from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. StockNews.com upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays dropped their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

Rogers Communications Trading Up 0.4 %

NYSE:RCI opened at $38.30 on Monday. The company has a 50-day moving average price of $37.98 and a 200-day moving average price of $40.93. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 47.88, a P/E/G ratio of 0.99 and a beta of 0.68. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. Rogers Communications has a 12 month low of $35.55 and a 12 month high of $48.19.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Monday, September 9th. Rogers Communications’s dividend payout ratio is presently 183.75%.

Institutional Trading of Rogers Communications

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in shares of Rogers Communications by 120.1% in the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after buying an additional 359 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Rogers Communications in the 2nd quarter worth approximately $37,000. Headlands Technologies LLC purchased a new position in Rogers Communications in the 1st quarter worth approximately $42,000. Lindbrook Capital LLC lifted its position in Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring an additional 499 shares in the last quarter. Finally, CWM LLC boosted its stake in Rogers Communications by 342.3% during the 2nd quarter. CWM LLC now owns 1,809 shares of the Wireless communications provider’s stock valued at $67,000 after purchasing an additional 1,400 shares during the last quarter. 45.49% of the stock is 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.