Rogers Communications Inc. (NYSE:RCI) to Post Q2 2024 Earnings of $0.77 Per Share, Desjardins Forecasts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Equities research analysts at Desjardins cut their Q2 2024 earnings per share estimates for shares of Rogers Communications in a report released on Thursday, April 25th. Desjardins analyst J. Dubreuil now anticipates that the Wireless communications provider will post earnings per share of $0.77 for the quarter, down from their prior estimate of $0.86. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Desjardins also issued estimates for Rogers Communications’ Q3 2024 earnings at $0.93 EPS, Q4 2024 earnings at $0.90 EPS and FY2025 earnings at $3.77 EPS.

Several other equities analysts also recently commented on the company. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays lowered their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. 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, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Trading Down 0.2 %

Shares of Rogers Communications stock opened at $37.95 on Friday. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. The company has a market capitalization of $20.06 billion, a P/E ratio of 47.44, a P/E/G ratio of 1.65 and a beta of 0.59. The company has a fifty day moving average of $41.67 and a 200 day moving average of $43.12.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.71%.

Institutional Investors Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communications by 62.8% in the third quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock valued at $27,000 after acquiring an additional 270 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Rogers Communications in the third quarter worth about $29,000. Fifth Third Bancorp grew its holdings 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 purchasing an additional 359 shares during the last quarter. Lindbrook Capital LLC increased its stake 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 during the period. Finally, CVA Family Office LLC bought a new stake in Rogers Communications during the 4th quarter valued at about $51,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a $0.3658 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.86%. Rogers Communications’s dividend payout ratio (DPR) is presently 183.75%.

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.