Wall Street brokerages expect Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) to announce $0.87 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Rogers Communications’ earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.91. Rogers Communications reported earnings of $0.83 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The business is expected to announce its next quarterly earnings report on Thursday, July 18th.
On average, analysts expect that Rogers Communications will report full-year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.29 to $3.53. For the next financial year, analysts forecast that the firm will report earnings of $3.78 per share, with EPS estimates ranging from $3.53 to $4.37. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Rogers Communications.
Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Rogers Communications had a net margin of 13.47% and a return on equity of 27.28%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm posted $0.93 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis.
Several analysts recently weighed in on the stock. Echelon Wealth Partners reiterated a “buy” rating on shares of Rogers Communications in a research report on Friday, January 25th. Zacks Investment Research upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Friday, February 8th. Scotiabank downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, April 22nd. Howard Weil downgraded shares of Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, April 22nd. Finally, ValuEngine downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Rogers Communications currently has an average rating of “Hold” and an average price target of $54.68.
NYSE:RCI traded up $0.01 during mid-day trading on Wednesday, hitting $51.01. The stock had a trading volume of 49,873 shares, compared to its average volume of 444,039. The company has a market cap of $26.42 billion, a PE ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 0.66. Rogers Communications has a 52 week low of $46.16 and a 52 week high of $55.93. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 1.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be paid a $0.3753 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.50 annualized dividend and a dividend yield of 2.94%. Rogers Communications’s dividend payout ratio is currently 45.37%.
Several institutional investors and hedge funds have recently made changes to their positions in RCI. Lindbrook Capital LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $32,000. We Are One Seven LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $37,000. Enlightenment Research LLC acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $46,000. Van ECK Associates Corp acquired a new position in shares of Rogers Communications in the 4th quarter worth approximately $72,000. Finally, Quadrant Capital Group LLC increased its position in shares of Rogers Communications by 157.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,710 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 1,047 shares in the last quarter. 44.69% of the stock is currently owned by institutional investors.
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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.
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