Brokerages Expect Rogers Communications Inc. (RCI) Will Post Earnings of $0.70 Per Share
Analysts expect Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) to post earnings per share of $0.70 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Rogers Communications’ earnings. The highest EPS estimate is $0.74 and the lowest is $0.66. Rogers Communications reported earnings of $0.62 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The firm is scheduled to issue its next earnings report on Thursday, July 20th.
According to Zacks, analysts expect that Rogers Communications will report full year earnings of $2.46 per share for the current year, with EPS estimates ranging from $2.41 to $2.52. For the next year, analysts anticipate that the company will post earnings of $2.61 per share, with EPS estimates ranging from $2.48 to $2.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Rogers Communications.
Rogers Communications (NYSE:RCI) last announced its quarterly earnings results on Tuesday, April 18th. The Wireless communications provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. Rogers Communications had a return on equity of 25.46% and a net margin of 6.26%. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.
A number of research analysts have commented on RCI shares. Zacks Investment Research upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective on shares of Rogers Communications in a research report on Thursday, April 13th. Finally, CIBC lowered Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Rogers Communications presently has an average rating of “Hold” and an average price target of $54.43.
Shares of Rogers Communications (NYSE:RCI) traded up 0.39% on Monday, reaching $45.92. The company’s stock had a trading volume of 86,929 shares. The stock has a 50-day moving average of $45.17 and a 200 day moving average of $41.62. Rogers Communications has a 52 week low of $37.03 and a 52 week high of $47.42. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 35.82 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 4th. Stockholders of record on Monday, June 12th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $1.92 annualized dividend and a dividend yield of 4.20%. Rogers Communications’s dividend payout ratio is currently 116.26%.
Several hedge funds and other institutional investors have recently bought and sold shares of RCI. US Bancorp DE raised its position in Rogers Communications by 5.2% in the third quarter. US Bancorp DE now owns 3,379 shares of the Wireless communications provider’s stock valued at $144,000 after buying an additional 167 shares in the last quarter. Barometer Capital Management Inc. bought a new position in Rogers Communications during the first quarter valued at about $168,000. Lombard Odier Asset Management Europe Ltd bought a new position in Rogers Communications during the third quarter valued at about $223,000. Yorktown Management & Research Co Inc bought a new position in Rogers Communications during the third quarter valued at about $204,000. Finally, Aveo Capital Partners LLC bought a new position in Rogers Communications during the fourth quarter valued at about $215,000. Institutional investors and hedge funds own 50.95% of the company’s stock.
Rogers Communications Company Profile
Rogers Communications Inc is a communications and media company. The Company provides wireless communications services, and cable television, Internet, information technology (IT) and telephony services to consumers and businesses. Its segments include Wireless, Cable, Business Solutions and Media. The Wireless segment is engaged in wireless telecommunications operations for Canadian consumers and businesses.
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