Rogers Communications Inc. to Post FY2024 Earnings of $3.36 Per Share, National Bank Financial Forecasts (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for Rogers Communications in a report issued on Tuesday, April 9th. National Bank Financial analyst A. Shine now expects that the Wireless communications provider will post earnings per share of $3.36 for the year, down from their previous forecast of $3.52. The consensus estimate for Rogers Communications’ current full-year earnings is $3.60 per share.

Other equities analysts have also recently issued research reports about the company. Barclays dropped their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Stock Down 2.8 %

RCI opened at $38.06 on Friday. The business has a 50 day moving average price of $43.15 and a two-hundred day moving average price of $43.13. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81. The company has a market cap of $20.12 billion, a PE ratio of 31.72, a P/E/G ratio of 1.68 and a beta of 0.59. Rogers Communications has a 52 week low of $36.55 and a 52 week high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in Rogers Communications by 62.8% in the third quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after buying an additional 270 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Rogers Communications during the 3rd quarter valued at $29,000. Fifth Third Bancorp boosted its stake in shares of Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after buying an additional 359 shares during the period. Lindbrook Capital LLC lifted its stake in shares of 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 purchasing an additional 499 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Rogers Communications in the 4th quarter valued at $51,000. Institutional investors own 45.49% of the company’s stock.

Rogers Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders 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 yield of 3.93%. This is a boost from Rogers Communications’s previous quarterly dividend of $0.36. Rogers Communications’s dividend payout ratio (DPR) is currently 122.50%.

About Rogers Communications

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.