Zacks: Brokerages Anticipate Rogers Communications Inc. (NYSE:RCI) to Post $0.55 EPS

Equities research analysts forecast that Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) will announce earnings of $0.55 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Rogers Communications’ earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.51. Rogers Communications posted earnings per share of $0.87 during the same quarter last year, which would indicate a negative year-over-year growth rate of 36.8%. The company is scheduled to issue its next earnings report on Tuesday, July 28th.

On average, analysts expect that Rogers Communications will report full-year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.22 to $3.00. For the next financial year, analysts forecast that the company will post earnings of $2.98 per share, with EPS estimates ranging from $2.71 to $3.34. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Rogers Communications.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last posted its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.13. Rogers Communications had a return on equity of 22.08% and a net margin of 13.45%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis.

RCI has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on Rogers Communications from $64.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Scotiabank cut their price objective on Rogers Communications from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Veritas Investment Research downgraded Rogers Communications from a “buy” rating to a “sell” rating in a research note on Wednesday, April 8th. UBS Group cut their price objective on Rogers Communications from $67.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Canaccord Genuity boosted their price target on Rogers Communications from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.57.

Shares of RCI traded up $0.74 during midday trading on Tuesday, reaching $40.36. 376,500 shares of the stock were exchanged, compared to its average volume of 618,223. Rogers Communications has a 12-month low of $32.20 and a 12-month high of $54.82. The firm has a 50 day simple moving average of $41.41 and a 200-day simple moving average of $44.84. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.95. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 3.87 and a beta of 0.49.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be paid a $0.3519 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Tuesday, June 9th. Rogers Communications’s dividend payout ratio is currently 46.33%.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Rogers Communications by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 826,888 shares of the Wireless communications provider’s stock worth $41,072,000 after acquiring an additional 49,807 shares during the last quarter. Hexavest Inc. raised its position in shares of Rogers Communications by 37.5% during the first quarter. Hexavest Inc. now owns 67,224 shares of the Wireless communications provider’s stock worth $2,774,000 after acquiring an additional 18,341 shares during the last quarter. Marshall Wace North America L.P. raised its position in shares of Rogers Communications by 728.3% during the fourth quarter. Marshall Wace North America L.P. now owns 29,453 shares of the Wireless communications provider’s stock worth $1,464,000 after acquiring an additional 25,897 shares during the last quarter. Covington Capital Management bought a new stake in shares of Rogers Communications during the fourth quarter worth $124,000. Finally, Morgan Stanley raised its position in shares of Rogers Communications by 3.0% during the first quarter. Morgan Stanley now owns 847,635 shares of the Wireless communications provider’s stock worth $35,203,000 after acquiring an additional 24,930 shares during the last quarter. 43.45% 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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