Scotiabank Has Bullish Forecast for RCI FY2027 Earnings

Key Points

• Scotiabank raised its FY2027 EPS forecast for Rogers Communication to $3.49 from $3.44 and maintained an “Outperform” rating, above the current consensus estimate of $3.29.
• Rogers beat quarterly expectations with EPS of $0.83 versus $0.80 expected, while revenue rose 7.6% year over year to $3.95 billion.
• The stock carries a “Moderate Buy” consensus rating and a $36 average price target; Rogers also announced a quarterly dividend of $0.50, representing a 5.7% annualized yield.

Rogers Communication, Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Investment analysts at Scotiabank upped their FY2027 earnings per share estimates for Rogers Communication in a note issued to investors on Thursday, September 17th. Scotiabank analyst M. Yaghi now anticipates that the Wireless communications provider will post earnings per share of $3.49 for the year, up from their prior forecast of $3.44. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Rogers Communication's current full-year earnings is $3.29 per share.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last released its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.03. Rogers Communication had a return on equity of 11.56% and a net margin of 27.54%.The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.91 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company's revenue was up 7.6% on a year-over-year basis.

RCI has been the topic of several other research reports. Desjardins upgraded Rogers Communication from a "hold" rating to a "buy" rating in a report on Monday. Raymond James Financial started coverage on Rogers Communication in a report on Wednesday, July 15th. They issued an "outperform" rating for the company. TD Securities reissued a "buy" rating on shares of Rogers Communication in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Rogers Communication from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Rogers Communication from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rogers Communication presently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

Rogers Communication Trading Down 2.1%

Rogers Communication stock opened at $35.14 on Friday. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 4.24, a P/E/G ratio of 4.46 and a beta of 0.66. The firm has a 50-day moving average of $35.33 and a 200-day moving average of $36.13. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.55 and a quick ratio of 0.51. Rogers Communication has a one year low of $31.38 and a one year high of $41.14.

Rogers Communication Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 8th. Rogers Communication's payout ratio is currently 17.39%.

Institutional Trading of Rogers Communication

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Rogers Communication by 39.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,689 shares of the Wireless communications provider's stock valued at $101,000 after purchasing an additional 761 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Rogers Communication by 1,314.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,337 shares of the Wireless communications provider's stock worth $126,000 after purchasing an additional 3,101 shares during the period. Parallel Advisors LLC raised its position in shares of Rogers Communication by 10.2% in the first quarter. Parallel Advisors LLC now owns 3,377 shares of the Wireless communications provider's stock valued at $130,000 after buying an additional 312 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in shares of Rogers Communication in the first quarter valued at approximately $180,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Rogers Communication in the fourth quarter valued at approximately $195,000. Institutional investors and hedge funds own 45.49% of the company's stock.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.

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