Research Analysts Offer Predictions for Rogers Communications Inc.'s FY2024 Earnings (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Stock analysts at Desjardins lowered their FY2024 EPS estimates for shares of Rogers Communications in a report issued on Thursday, April 25th. Desjardins analyst J. Dubreuil now anticipates that the Wireless communications provider will post earnings per share of $3.32 for the year, down from their previous estimate of $3.60. The consensus estimate for Rogers Communications' current full-year earnings is $3.53 per share.

RCI has been the topic of several other reports. Barclays reduced their price objective on Rogers Communications from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 10th. StockNews.com lowered shares of Rogers Communications from a "hold" rating to a "sell" rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Rogers Communications Price Performance

NYSE:RCI traded up $0.22 during trading hours on Monday, reaching $38.18. 640,958 shares of the company traded hands, compared to its average volume of 590,623. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.72. The firm's 50-day moving average is $41.53 and its 200-day moving average is $43.16. The stock has a market cap of $20.18 billion, a P/E ratio of 47.73, a P/E/G ratio of 1.66 and a beta of 0.59. Rogers Communications has a 1-year low of $36.55 and a 1-year high of $50.00.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating 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

Hedge funds have recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd lifted its holdings in shares of Rogers Communications by 0.8% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 98,478 shares of the Wireless communications provider's stock worth $4,065,000 after acquiring an additional 807 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rogers Communications by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,748 shares of the Wireless communications provider's stock worth $32,215,000 after purchasing an additional 4,745 shares during the period. Gulf International Bank UK Ltd boosted its holdings in shares of Rogers Communications by 13.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 2,720 shares of the Wireless communications provider's stock valued at $111,000 after purchasing an additional 322 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Rogers Communications by 22.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,544,016 shares of the Wireless communications provider's stock valued at $165,895,000 after purchasing an additional 660,486 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Rogers Communications during the 4th quarter valued at $228,000. Institutional investors and hedge funds own 45.49% of the company's stock.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders 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 3.83%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications's dividend payout ratio is presently 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.