Scotiabank Analysts Increase Earnings Estimates for RCI

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) – Stock analysts at Scotiabank upped their FY2025 earnings estimates for shares of Rogers Communication in a research report issued to clients and investors on Tuesday, October 28th. Scotiabank analyst M. Yaghi now anticipates that the Wireless communications provider will earn $3.83 per share for the year, up from their previous estimate of $3.35. Scotiabank currently has a “Sector Perform” rating on the stock. The consensus estimate for Rogers Communication’s current full-year earnings is $3.57 per share.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings data on Thursday, October 23rd. The Wireless communications provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $5.33 billion. Rogers Communication had a net margin of 32.49% and a return on equity of 17.14%. Rogers Communication’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS.

A number of other analysts have also issued reports on RCI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rogers Communication in a report on Wednesday, October 8th. Barclays raised their target price on Rogers Communication from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, Cowen reaffirmed a “buy” rating on shares of Rogers Communication in a report on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.00.

Rogers Communication Price Performance

NYSE RCI opened at $39.11 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt-to-equity ratio of 1.55. The company has a fifty day simple moving average of $36.30 and a 200 day simple moving average of $31.83. The company has a market cap of $21.13 billion, a P/E ratio of 4.35, a P/E/G ratio of 3.29 and a beta of 0.78. Rogers Communication has a 1 year low of $23.18 and a 1 year high of $40.26.

Institutional Trading of Rogers Communication

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Rogers Communication by 303.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,538,620 shares of the Wireless communications provider’s stock worth $148,047,000 after acquiring an additional 4,166,861 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Rogers Communication during the 2nd quarter worth about $78,714,000. Platinum Investment Management Ltd. bought a new position in shares of Rogers Communication during the 2nd quarter worth about $77,687,000. Canada Pension Plan Investment Board boosted its stake in Rogers Communication by 373.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,870,559 shares of the Wireless communications provider’s stock valued at $76,671,000 after buying an additional 2,263,859 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Rogers Communication by 380.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,348,091 shares of the Wireless communications provider’s stock valued at $62,717,000 after buying an additional 1,859,288 shares in the last quarter. Institutional investors and hedge funds own 45.49% of the company’s stock.

About Rogers Communication

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.