FY2024 Earnings Forecast for Rogers Communications Inc. Issued By National Bank Financial (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at National Bank Financial reduced their FY2024 earnings per share estimates for Rogers Communications in a report released on Tuesday, April 9th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will earn $3.36 per share for the year, down from their previous forecast of $3.52. The consensus estimate for Rogers Communications’ current full-year earnings is $3.62 per share.

Other analysts have also recently issued research reports about the company. Barclays cut their price objective on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Trading Down 2.8 %

Shares of NYSE RCI opened at $38.06 on Friday. The stock’s 50 day moving average price is $43.15 and its two-hundred day moving average price is $43.10. Rogers Communications has a 52-week low of $36.55 and a 52-week high of $50.00. The stock has a market capitalization of $20.12 billion, a P/E ratio of 31.72, a PEG ratio of 1.67 and a beta of 0.59. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81.

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

Rogers Communications Increases Dividend

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

Institutional Trading of Rogers Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in Rogers Communications by 120.1% in the 4th 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. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 270 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Rogers Communications in the 3rd quarter worth approximately $29,000. Lindbrook Capital LLC grew its holdings in Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 499 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Rogers Communications in the 4th quarter worth approximately $51,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.