Rogers Communications Inc. (NYSE:RCI) to Post FY2024 Earnings of $3.96 Per Share, Cormark Forecasts

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at Cormark dropped their FY2024 EPS estimates for shares of Rogers Communications in a report issued on Thursday, April 25th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will post earnings per share of $3.96 for the year, down from their prior estimate of $3.97. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Cormark also issued estimates for Rogers Communications’ FY2025 earnings at $4.10 EPS.

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

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

Rogers Communications Trading Down 0.3 %

NYSE:RCI opened at $38.04 on Friday. The company has a market capitalization of $20.11 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. Rogers Communications has a 52-week low of $36.55 and a 52-week high of $50.00. The stock has a fifty day simple moving average of $41.83 and a 200-day simple moving average of $43.12. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 3.81.

Rogers Communications Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a $0.3658 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.46 annualized dividend and a yield of 3.85%. Rogers Communications’s payout ratio is currently 183.75%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCI. SG Americas Securities LLC acquired a new position in Rogers Communications in the third quarter valued at $827,000. Cigna Investments Inc. New lifted its holdings in shares of Rogers Communications by 4.9% during the 3rd quarter. Cigna Investments Inc. New now owns 6,851 shares of the Wireless communications provider’s stock worth $265,000 after acquiring an additional 317 shares during the period. Everett Harris & Co. CA boosted its position in shares of Rogers Communications by 3.0% in the third quarter. Everett Harris & Co. CA now owns 89,600 shares of the Wireless communications provider’s stock worth $3,440,000 after acquiring an additional 2,580 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Rogers Communications by 2.2% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 236,612 shares of the Wireless communications provider’s stock valued at $9,046,000 after purchasing an additional 5,195 shares during the period. Finally, Mackenzie Financial Corp increased its position in Rogers Communications by 5.8% during the third quarter. Mackenzie Financial Corp now owns 9,148,044 shares of the Wireless communications provider’s stock worth $339,007,000 after purchasing an additional 505,427 shares during the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.