Analysts Set Expectations for Rogers Communications Inc.’s Q1 2024 Earnings (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – National Bank Financial issued their Q1 2024 EPS estimates for shares of Rogers Communications in a report released on Tuesday, April 9th. National Bank Financial analyst A. Shine forecasts that the Wireless communications provider will earn $0.74 per share for the quarter. The consensus estimate for Rogers Communications’ current full-year earnings is $3.62 per share. National Bank Financial also issued estimates for Rogers Communications’ FY2025 earnings at $3.56 EPS.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion.

RCI has been the subject of a number of other research reports. StockNews.com downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Barclays lowered their price target on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Stock Down 2.8 %

Shares of NYSE:RCI opened at $38.06 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00. The company has a 50-day moving average price of $43.15 and a 200 day moving average price of $43.10. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.67 and a beta of 0.59.

Institutional Trading of Rogers Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Rogers Communications during the third quarter worth approximately $29,000. Fifth Third Bancorp increased its position in shares of Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 359 shares during the period. Lindbrook Capital LLC increased its position in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 499 shares during the period. Finally, CVA Family Office LLC purchased a new position in shares of Rogers Communications during the fourth quarter worth approximately $51,000. 45.49% of the stock is owned by hedge funds and other institutional investors.

Rogers Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Monday, March 11th were given a $0.3742 dividend. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Friday, March 8th. Rogers Communications’s dividend payout ratio is 122.50%.

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.