National Bank Financial Equities Analysts Increase Earnings Estimates for Rogers Communications Inc. (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Rogers Communications in a report released on Wednesday, April 24th. National Bank Financial analyst A. Shine now expects that the Wireless communications provider will post earnings of $3.37 per share for the year, up from their previous forecast of $3.36. The consensus estimate for Rogers Communications’ current full-year earnings is $3.53 per share.

A number of other analysts have also recently commented on RCI. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Barclays lowered 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 given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.00.

Rogers Communications Stock Performance

NYSE RCI opened at $38.18 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 3.67. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00. The business has a fifty day moving average of $41.53 and a 200-day moving average of $43.16. The stock has a market cap of $20.18 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 1.66 and a beta of 0.59.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Rogers Communications by 62.8% during 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 period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Rogers Communications during the 3rd quarter worth $29,000. Fifth Third Bancorp boosted its position in Rogers Communications by 120.1% during the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 359 shares during the period. Lindbrook Capital LLC increased its holdings in 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 in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Rogers Communications during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 10th will be given a $0.3658 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a dividend yield of 3.83%. Rogers Communications’s dividend payout ratio is presently 183.75%.

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.