Rogers Communications Inc. (NYSE:RCI) to Post Q2 2024 Earnings of $0.77 Per Share, Desjardins Forecasts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at Desjardins cut their Q2 2024 earnings per share estimates for shares of Rogers Communications in a research report issued to clients and investors on Thursday, April 25th. Desjardins analyst J. Dubreuil now expects that the Wireless communications provider will post earnings of $0.77 per share for the quarter, down from their previous forecast of $0.86. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Desjardins also issued estimates for Rogers Communications’ Q3 2024 earnings at $0.93 EPS, Q4 2024 earnings at $0.90 EPS and FY2025 earnings at $3.77 EPS.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a return on equity of 21.92% and a net margin of 2.90%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion.

Several other research firms have also issued reports on RCI. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays decreased their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Stock Down 0.2 %

Shares of Rogers Communications stock opened at $37.96 on Friday. The business has a fifty day simple moving average of $41.67 and a 200 day simple moving average of $43.14. The stock has a market cap of $20.06 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59. The company has a quick ratio of 0.84, a current ratio of 0.77 and a debt-to-equity ratio of 3.67. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00.

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RCI. Fifth Third Bancorp grew its stake in shares of Rogers Communications by 120.1% in the fourth 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 in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 valued at $27,000 after acquiring an additional 270 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Rogers Communications in the third quarter valued at about $29,000. Lindbrook Capital LLC increased its position in Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 499 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Rogers Communications during the 4th quarter valued at $51,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be issued a $0.3658 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio (DPR) 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.