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

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Stock analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Rogers Communications in a report issued on Monday, April 15th. Cormark analyst D. Mcfadgen now anticipates 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 announced its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Rogers Communications had a return on equity of 22.17% and a net margin of 4.38%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.99 billion.

RCI has been the subject of a number of other research reports. Barclays reduced their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $38.33 on Wednesday. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00. The business has a 50-day moving average of $42.48 and a two-hundred day moving average of $43.08. The stock has a market capitalization of $20.26 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.62 and a beta of 0.59. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84.

Rogers Communications Increases Dividend

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

Hedge Funds Weigh In On Rogers Communications

Several large investors have recently made changes to their positions in RCI. EverSource Wealth Advisors LLC raised its holdings in Rogers Communications by 62.8% in 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 position in Rogers Communications in the 3rd quarter valued at approximately $29,000. 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 valued at $31,000 after acquiring an additional 359 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Rogers Communications by 120.8% in 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 position in Rogers Communications in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

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.