Analysts Anticipate Rogers Communications Inc. (NYSE:RCI) Will Announce Quarterly Sales of $3.01 Billion

Equities analysts expect Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) to announce sales of $3.01 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rogers Communications’ earnings, with the lowest sales estimate coming in at $3.00 billion and the highest estimate coming in at $3.03 billion. Rogers Communications posted sales of $2.98 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The business is expected to announce its next earnings report on Thursday, January 23rd.

According to Zacks, analysts expect that Rogers Communications will report full-year sales of $11.46 billion for the current fiscal year, with estimates ranging from $11.39 billion to $11.50 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.61 billion, with estimates ranging from $11.40 billion to $11.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Rogers Communications.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, October 23rd. The Wireless communications provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.19. Rogers Communications had a return on equity of 25.20% and a net margin of 13.79%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the company posted $1.21 EPS. Rogers Communications’s revenue for the quarter was down .4% on a year-over-year basis.

RCI has been the subject of a number of recent research reports. ValuEngine raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Thursday, October 24th. TD Securities raised Rogers Communications to a “buy” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research downgraded Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Rogers Communications has an average rating of “Hold” and an average price target of $63.52.

A number of large investors have recently made changes to their positions in RCI. Willingdon Wealth Management increased its holdings in Rogers Communications by 23.4% during the 3rd quarter. Willingdon Wealth Management now owns 1,549 shares of the Wireless communications provider’s stock valued at $75,000 after purchasing an additional 294 shares during the period. Neuburgh Advisers LLC grew its holdings in shares of Rogers Communications by 12.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 256 shares during the period. Assetmark Inc. purchased a new position in shares of Rogers Communications during the 2nd quarter worth approximately $153,000. Glen Harbor Capital Management LLC grew its holdings in shares of Rogers Communications by 12.2% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,234 shares of the Wireless communications provider’s stock worth $166,000 after acquiring an additional 352 shares during the period. Finally, Riverhead Capital Management LLC grew its holdings in shares of Rogers Communications by 11.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,765 shares of the Wireless communications provider’s stock worth $194,000 after acquiring an additional 400 shares during the period. Institutional investors own 43.65% of the company’s stock.

Shares of NYSE RCI traded up $0.15 during midday trading on Monday, reaching $48.68. The company had a trading volume of 276,104 shares, compared to its average volume of 424,535. Rogers Communications has a one year low of $45.94 and a one year high of $55.93. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 1.69. The firm’s fifty day moving average price is $47.83 and its 200-day moving average price is $50.61. The stock has a market cap of $24.86 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 3.80 and a beta of 0.50.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.378 per share. This represents a $1.51 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, December 10th. This is an increase from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s payout ratio is currently 44.78%.

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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