Rogers Communications (RCI) Set to Announce Quarterly Earnings on Wednesday

Rogers Communications (NYSE:RCI) (TSE:RCI.B) is set to release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Rogers Communications to post earnings of $0.86 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $3.99 billion. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. On average, analysts expect Rogers Communications to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Rogers Communications Trading Up 0.6 %

Shares of RCI opened at $38.54 on Monday. 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 fifty-two week low of $36.55 and a fifty-two week high of $50.00. The firm has a 50 day moving average price of $42.34 and a 200-day moving average price of $43.17. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.66 and a beta of 0.59.

Rogers Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Monday, March 11th were paid a $0.3742 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a yield of 3.88%. Rogers Communications’s payout ratio is currently 122.50%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays lowered their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Institutional Investors Weigh In On Rogers Communications

Hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Rogers Communications by 36.0% in the 3rd quarter. Morgan Stanley now owns 4,451,922 shares of the Wireless communications provider’s stock worth $170,909,000 after buying an additional 1,177,772 shares during the period. Point72 Asset Management L.P. increased its position in Rogers Communications by 592.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,280,700 shares of the Wireless communications provider’s stock valued at $58,472,000 after buying an additional 1,095,806 shares in the last quarter. Alliancebernstein L.P. raised its stake in Rogers Communications by 452.6% during the third quarter. Alliancebernstein L.P. now owns 1,280,731 shares of the Wireless communications provider’s stock valued at $49,359,000 after buying an additional 1,048,976 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Rogers Communications by 106.9% in the first quarter. Schonfeld Strategic Advisors LLC now owns 1,939,079 shares of the Wireless communications provider’s stock worth $89,896,000 after acquiring an additional 1,001,888 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Rogers Communications by 35.1% during the second quarter. Goldman Sachs Group Inc. now owns 2,862,120 shares of the Wireless communications provider’s stock valued at $130,627,000 after acquiring an additional 742,970 shares in the last quarter. 45.49% of the stock is currently 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.