Equities Analysts Issue Forecasts for Rogers Communications Inc.’s Q2 2024 Earnings (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Investment analysts at Desjardins dropped their Q2 2024 earnings per share (EPS) estimates for shares of Rogers Communications in a report issued 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 prior 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.

A number of other research analysts have also weighed in on the stock. 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 report on Wednesday, April 10th. StockNews.com lowered Rogers Communications from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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 $37.95 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. The stock has a market cap of $20.06 billion, a PE ratio of 47.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. The stock’s fifty day simple moving average is $41.67 and its two-hundred day simple moving average is $43.12. Rogers Communications has a 1-year low of $36.55 and a 1-year high of $50.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 21.71% and a net margin of 2.90%.

Rogers Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio (DPR) is 183.75%.

Institutional Investors Weigh In On Rogers Communications

Institutional investors have recently added to or reduced their stakes in the business. Canoe Financial LP boosted its holdings in shares of Rogers Communications by 1,575.9% in the fourth quarter. Canoe Financial LP now owns 15,903,262 shares of the Wireless communications provider’s stock worth $744,432,000 after acquiring an additional 14,954,351 shares during the period. FIL Ltd boosted its stake in Rogers Communications by 13.7% during the fourth quarter. FIL Ltd now owns 36,514,749 shares of the Wireless communications provider’s stock valued at $1,709,377,000 after buying an additional 4,405,888 shares during the period. Barclays PLC increased its stake in Rogers Communications by 2,701.9% in the 3rd quarter. Barclays PLC now owns 3,292,839 shares of the Wireless communications provider’s stock worth $126,411,000 after acquiring an additional 3,175,319 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Rogers Communications by 27.3% in the 4th quarter. TD Asset Management Inc now owns 11,074,702 shares of the Wireless communications provider’s stock valued at $520,980,000 after acquiring an additional 2,372,306 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Rogers Communications by 10.2% during the 4th quarter. 1832 Asset Management L.P. now owns 12,707,709 shares of the Wireless communications provider’s stock valued at $594,848,000 after acquiring an additional 1,177,264 shares during the last quarter. 45.49% of the stock is owned by hedge funds and other institutional investors.

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.