Rogers Communications Inc. Expected to Earn FY2024 Earnings of $3.97 Per Share (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Investment analysts at Cormark dropped their FY2024 earnings estimates for shares of Rogers Communications in a report released on Monday, April 15th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will post earnings of $3.97 per share for the year, down from their previous forecast of $4.05. The consensus estimate for Rogers Communications' current full-year earnings is $3.60 per share.

Several other research firms have also commented on RCI. StockNews.com lowered shares of Rogers Communications from a "hold" rating to a "sell" rating in a report on Friday, April 5th. Barclays decreased their target price on shares of Rogers Communications from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Rogers Communications has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

Rogers Communications Price Performance

RCI stock traded up $0.19 during mid-day trading on Wednesday, hitting $37.89. The stock had a trading volume of 622,893 shares, compared to its average volume of 523,649. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. Rogers Communications has a 52 week low of $36.55 and a 52 week high of $50.00. The firm has a market capitalization of $20.03 billion, a P/E ratio of 31.58, a P/E/G ratio of 1.62 and a beta of 0.59. The firm has a fifty day simple moving average of $42.63 and a 200 day simple moving average of $43.11.

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

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Monday, March 11th were issued a dividend of $0.3742 per share. The ex-dividend date was Friday, March 8th. This is a positive change from Rogers Communications's previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.95%. Rogers Communications's payout ratio is 122.50%.

Institutional Investors Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently made changes to their positions in RCI. EverSource Wealth Advisors LLC grew its holdings in shares of Rogers Communications by 62.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider's stock valued at $27,000 after purchasing an additional 270 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Rogers Communications in the 3rd quarter valued at approximately $29,000. Fifth Third Bancorp increased its position in Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider's stock valued at $31,000 after acquiring an additional 359 shares during the period. Lindbrook Capital LLC increased its position in Rogers Communications by 120.8% in the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider's stock valued at $43,000 after acquiring an additional 499 shares during the period. Finally, CVA Family Office LLC acquired a new position in Rogers Communications in the 4th quarter valued at approximately $51,000. 45.49% of the stock is owned by institutional investors.

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.