FY2024 EPS Estimates for Rogers Communications Inc. Decreased by Analyst (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Stock analysts at Cormark dropped their FY2024 earnings per share (EPS) estimates for Rogers Communications in a note issued to investors on Monday, April 15th. Cormark analyst D. Mcfadgen now forecasts that the Wireless communications provider will post earnings of $3.97 per share for the year, down from their prior forecast of $4.05. The consensus estimate for Rogers Communications’ current full-year earnings is $3.59 per share.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.99 billion. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%.

Several other research analysts also recently commented on the company. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays lowered their target price on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.00.

Rogers Communications Stock Up 1.1 %

Shares of NYSE RCI opened at $38.33 on Wednesday. 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 company has a market cap of $20.26 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.62 and a beta of 0.59. Rogers Communications has a 12 month low of $36.55 and a 12 month high of $50.00. The stock has a 50-day moving average price of $42.48 and a two-hundred day moving average price of $43.08.

Institutional Trading of Rogers Communications

Several hedge funds and other institutional investors have recently made changes to their positions in RCI. EverSource Wealth Advisors LLC grew its holdings in shares of Rogers Communications by 62.8% during the third quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 270 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Rogers Communications during the third quarter worth about $29,000. Fifth Third Bancorp grew its holdings in shares of Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 359 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Rogers Communications by 120.8% during the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 499 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Rogers Communications during the fourth quarter worth about $51,000. 45.49% of the stock is currently owned by institutional investors.

Rogers Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were issued a dividend of $0.3742 per share. This is a boost from Rogers Communications’s previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Friday, March 8th. Rogers Communications’s payout ratio is 122.50%.

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 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.