Rogers Communications (NYSE:RCI) Announces Quarterly Earnings Results

Rogers Communications (NYSE:RCI) (TSE:RCI.B) released its quarterly earnings data on Tuesday. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.13, reports. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.57 billion. Rogers Communications had a net margin of 11.46% and a return on equity of 17.83%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS.

Shares of NYSE RCI traded down $0.39 during trading hours on Thursday, hitting $50.87. 3,764 shares of the stock were exchanged, compared to its average volume of 241,508. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 1.56. The business’s 50 day moving average is $52.16. The stock has a market cap of $25.69 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.29 and a beta of 0.50. Rogers Communications has a one year low of $37.84 and a one year high of $53.90.

RCI has been the topic of several research reports. Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price objective on the stock. in a research note on Monday, June 28th. National Bank Financial reiterated an “outperform” rating on shares of Rogers Communications in a research note on Thursday, April 22nd. Desjardins upped their price objective on shares of Rogers Communications from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, April 23rd. Royal Bank of Canada dropped their price target on shares of Rogers Communications from C$77.00 to C$76.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Scotiabank increased their price target on shares of Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $69.78.

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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.

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Earnings History for Rogers Communications (NYSE:RCI)

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