Desjardins Analysts Increase Earnings Estimates for Rogers Communications Inc. (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) – Investment analysts at Desjardins increased their FY2022 EPS estimates for shares of Rogers Communications in a report released on Thursday, April 21st. Desjardins analyst J. Dubreuil now forecasts that the Wireless communications provider will post earnings of $3.24 per share for the year, up from their prior estimate of $2.79. Desjardins also issued estimates for Rogers Communications’ Q4 2022 earnings at $0.92 EPS and FY2023 earnings at $3.83 EPS.

Several other research analysts have also commented on RCI. StockNews.com assumed coverage on Rogers Communications in a report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. lifted their price target on Rogers Communications from C$78.00 to C$90.00 in a report on Thursday. National Bank Financial lifted their price target on Rogers Communications from C$74.00 to C$77.00 in a report on Thursday, March 31st. Royal Bank of Canada boosted their price objective on shares of Rogers Communications from C$75.00 to C$77.00 in a report on Thursday. Finally, CIBC upgraded shares of Rogers Communications from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $77.60.

NYSE RCI opened at $57.86 on Monday. Rogers Communications has a 52 week low of $44.19 and a 52 week high of $64.55. The company has a quick ratio of 0.61, a current ratio of 2.39 and a debt-to-equity ratio of 2.72. The business’s fifty day simple moving average is $54.98 and its 200-day simple moving average is $50.40. The firm has a market cap of $29.21 billion, a PE ratio of 23.33, a P/E/G ratio of 2.85 and a beta of 0.47.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 20th. The Wireless communications provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.63 billion. Rogers Communications had a return on equity of 17.67% and a net margin of 10.73%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 4th. Shareholders of record on Friday, June 10th will be given a $0.396 dividend. This represents a $1.58 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, June 9th. Rogers Communications’s dividend payout ratio is currently 63.71%.

Several institutional investors have recently made changes to their positions in the company. Everett Harris & Co. CA grew its position in shares of Rogers Communications by 13.0% during the first quarter. Everett Harris & Co. CA now owns 70,260 shares of the Wireless communications provider’s stock worth $3,987,000 after buying an additional 8,110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rogers Communications by 83.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 727,625 shares of the Wireless communications provider’s stock worth $41,221,000 after purchasing an additional 330,754 shares during the last quarter. Sigma Planning Corp purchased a new stake in Rogers Communications during the first quarter worth approximately $208,000. Monarch Capital Management Inc. lifted its stake in Rogers Communications by 1.1% during the first quarter. Monarch Capital Management Inc. now owns 29,476 shares of the Wireless communications provider’s stock worth $1,673,000 after purchasing an additional 320 shares during the last quarter. Finally, Addenda Capital Inc. lifted its stake in Rogers Communications by 0.8% during the first quarter. Addenda Capital Inc. now owns 815,051 shares of the Wireless communications provider’s stock worth $58,074,000 after purchasing an additional 6,602 shares during the last quarter. 42.50% of the stock is owned by institutional investors and hedge funds.

About Rogers Communications (Get Rating)

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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

Further Reading

Earnings History and Estimates for Rogers Communications (NYSE:RCI)

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