Rogers Communications Inc. to Post FY2024 Earnings of $3.37 Per Share, National Bank Financial Forecasts (NYSE:RCI)

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

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

RCI has been the topic of several other research reports. Barclays dropped their price target on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com lowered shares of Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $37.47 on Monday. The firm’s 50 day moving average is $41.36 and its two-hundred day moving average is $43.15. Rogers Communications has a 52 week low of $36.55 and a 52 week high of $50.00. The firm has a market capitalization of $19.80 billion, a P/E ratio of 46.83, a PEG ratio of 1.66 and a beta of 0.59. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 3.67.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio (DPR) is currently 183.75%.

Institutional Investors Weigh In On Rogers Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in Rogers Communications by 120.1% in the 4th quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 359 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Rogers Communications by 62.8% during the 3rd 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 in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Rogers Communications during the 3rd quarter valued at about $29,000. Lindbrook Capital LLC boosted its position in shares of Rogers Communications by 120.8% during the 4th quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring 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 about $51,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.