National Bank Financial Analysts Boost Earnings Estimates for Rogers Communications Inc. (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Investment analysts at National Bank Financial increased their FY2024 EPS estimates for shares of Rogers Communications in a report issued on Wednesday, April 24th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will earn $3.37 per share for the year, up from their previous forecast of $3.36. The consensus estimate for Rogers Communications’ current full-year earnings is $3.53 per share.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays decreased their price target on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research 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, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Trading Down 0.2 %

NYSE RCI opened at $37.96 on Monday. Rogers Communications has a one year low of $36.55 and a one year high of $50.00. The company’s 50 day moving average price is $41.67 and its 200 day moving average price is $43.17. The company has a debt-to-equity ratio of 3.67, a quick ratio of 0.84 and a current ratio of 0.77. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 47.45, a PEG ratio of 1.64 and a beta of 0.59.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Canoe Financial LP raised its position in Rogers Communications by 1,575.9% in the fourth quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after acquiring an additional 14,954,351 shares in the last quarter. FIL Ltd increased its stake in Rogers Communications by 13.7% in the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock worth $1,709,377,000 after purchasing an additional 4,405,888 shares in the last quarter. Barclays PLC increased its stake in Rogers Communications by 2,701.9% in the 3rd quarter. Barclays PLC now owns 3,292,839 shares of the Wireless communications provider’s stock worth $126,411,000 after purchasing an additional 3,175,319 shares in the last quarter. TD Asset Management Inc increased its stake in Rogers Communications by 27.3% in the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock worth $520,980,000 after purchasing an additional 2,372,306 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Rogers Communications by 10.2% in the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock worth $594,848,000 after purchasing an additional 1,177,264 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be paid a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Monday, June 10th. Rogers Communications’s dividend payout ratio is currently 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.