Rogers Communications Inc. Forecasted to Earn Q1 2024 Earnings of $0.74 Per Share (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Rogers Communications in a report issued on Tuesday, April 9th. National Bank Financial analyst A. Shine forecasts that the Wireless communications provider will post earnings of $0.74 per share for the quarter. The consensus estimate for Rogers Communications' current full-year earnings is $3.62 per share. National Bank Financial also issued estimates for Rogers Communications' FY2025 earnings at $3.56 EPS.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. The business had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%.

A number of other equities analysts have also weighed in on RCI. StockNews.com lowered Rogers Communications from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. Barclays cut 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. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

Rogers Communications Price Performance

Shares of RCI traded down $0.18 during trading hours on Thursday, hitting $39.15. 441,266 shares of the stock were exchanged, compared to its average volume of 510,270. The company has a debt-to-equity ratio of 3.81, a quick ratio of 0.84 and a current ratio of 0.89. Rogers Communications has a 12-month low of $36.55 and a 12-month high of $50.00. The company has a market cap of $20.69 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The stock's 50-day moving average price is $43.33 and its two-hundred day moving average price is $43.11.

Rogers Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were issued a $0.3742 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from Rogers Communications's previous quarterly dividend of $0.36. Rogers Communications's dividend payout ratio is presently 122.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RCI. Canoe Financial LP grew its stake in Rogers Communications by 1,575.9% during the 4th quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider's stock worth $744,432,000 after buying an additional 14,954,351 shares during the last quarter. FIL Ltd lifted its position in Rogers Communications by 13.7% during the 4th quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider's stock worth $1,709,377,000 after acquiring an additional 4,405,888 shares during the period. Barclays PLC lifted its position in Rogers Communications by 2,701.9% during the 3rd quarter. Barclays PLC now owns 3,292,839 shares of the Wireless communications provider's stock worth $126,411,000 after acquiring an additional 3,175,319 shares during the period. TD Asset Management Inc lifted its position in Rogers Communications by 27.3% during 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 acquiring an additional 2,372,306 shares during the period. Finally, Morgan Stanley lifted its position in Rogers Communications by 36.0% during the 3rd quarter. Morgan Stanley now owns 4,451,922 shares of the Wireless communications provider's stock worth $170,909,000 after acquiring an additional 1,177,772 shares during the period. Hedge funds and other institutional investors own 45.49% of the company's stock.

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.