FY2024 Earnings Forecast for Rogers Communications Inc. (NYSE:RCI) Issued By Cormark

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Stock analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Rogers Communications in a report issued on Thursday, April 25th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings of $3.96 per share for the year, down from their prior forecast of $3.97. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Cormark also issued estimates for Rogers Communications’ FY2025 earnings at $4.10 EPS.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 21.71% and a net margin of 2.90%.

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

Rogers Communications Trading Down 0.2 %

Shares of RCI stock opened at $37.95 on Friday. The business’s 50 day moving average is $41.67 and its two-hundred day moving average is $43.12. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81. 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 $20.06 billion, a PE ratio of 47.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC lifted its position in Rogers Communications by 317.7% in the third quarter. Orion Portfolio Solutions LLC now owns 33,877 shares of the Wireless communications provider’s stock worth $1,301,000 after purchasing an additional 25,766 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Rogers Communications by 101.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 131,276 shares of the Wireless communications provider’s stock valued at $5,040,000 after acquiring an additional 66,231 shares in the last quarter. Invesco Ltd. boosted its position in shares of Rogers Communications by 13.7% during the 3rd quarter. Invesco Ltd. now owns 200,294 shares of the Wireless communications provider’s stock valued at $7,689,000 after acquiring an additional 24,178 shares in the last quarter. Cumberland Partners Ltd increased its stake in Rogers Communications by 3.4% in the fourth quarter. Cumberland Partners Ltd now owns 718,261 shares of the Wireless communications provider’s stock valued at $33,622,000 after acquiring an additional 23,774 shares during the period. Finally, Scotia Capital Inc. lifted its stake in Rogers Communications by 9.3% during the third quarter. Scotia Capital Inc. now owns 2,625,594 shares of the Wireless communications provider’s stock worth $100,617,000 after purchasing an additional 224,293 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.3658 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.46 annualized dividend and a dividend yield of 3.86%. Rogers Communications’s payout ratio is 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.