Rogers Communications Inc. (NYSE:RCI) Expected to Post FY2022 Earnings of $2.80 Per Share

Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) – Cormark decreased their FY2022 earnings per share (EPS) estimates for shares of Rogers Communications in a report released on Thursday, November 10th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings per share of $2.80 for the year, down from their previous forecast of $2.87. The consensus estimate for Rogers Communications’ current full-year earnings is $2.82 per share. Cormark also issued estimates for Rogers Communications’ FY2023 earnings at $3.19 EPS.

A number of other analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on Rogers Communications from C$68.00 to C$69.00 in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Rogers Communications from C$90.00 to C$80.00 in a research note on Monday, July 25th. TD Securities reduced their price target on Rogers Communications from C$83.00 to C$81.00 in a research note on Wednesday, September 7th. Scotiabank boosted their target price on Rogers Communications from C$69.50 to C$71.00 in a report on Thursday. Finally, National Bank Financial lowered their price target on Rogers Communications from C$77.00 to C$75.00 in a report on Thursday, September 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.22.

Rogers Communications Stock Performance

Shares of RCI opened at $43.32 on Friday. The company has a market cap of $21.87 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.53 and a beta of 0.50. The company has a current ratio of 2.49, a quick ratio of 2.43 and a debt-to-equity ratio of 2.85. The stock has a 50-day moving average price of $40.44 and a 200-day moving average price of $45.35. Rogers Communications has a 12-month low of $36.23 and a 12-month high of $64.55.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a dividend of $0.367 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, December 8th. Rogers Communications’s dividend payout ratio is currently 63.87%.

Institutional Investors Weigh In On Rogers Communications

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Rogers Communications by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 999,048 shares of the Wireless communications provider’s stock valued at $56,636,000 after acquiring an additional 3,397 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Rogers Communications in the 1st quarter valued at about $237,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Rogers Communications in the 1st quarter valued at about $253,000. Zeno Research LLC purchased a new position in shares of Rogers Communications in the 1st quarter valued at about $16,016,000. Finally, Signaturefd LLC increased its stake in Rogers Communications by 30.6% during the 1st quarter. Signaturefd LLC now owns 4,648 shares of the Wireless communications provider’s stock worth $264,000 after buying an additional 1,090 shares in the last quarter. 44.35% of the stock is owned by institutional investors.

Rogers Communications Company Profile

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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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