National Bank Financial Comments on Rogers Communications Inc.’s FY2019 Earnings (RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Analysts at National Bank Financial raised their FY2019 earnings per share (EPS) estimates for shares of Rogers Communications in a report released on Thursday. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will post earnings per share of $3.51 for the year, up from their previous forecast of $3.41. National Bank Financial currently has a “Sector Perform” rating on the stock.

Several other research analysts have also recently issued reports on RCI. Barclays reissued a “hold” rating and issued a $55.00 price objective on shares of Rogers Communications in a research note on Friday. Zacks Investment Research cut Rogers Communications from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. TheStreet raised Rogers Communications from a “c+” rating to a “b” rating in a research report on Thursday, October 19th. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Bank of America initiated coverage on Rogers Communications in a research report on Tuesday, November 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.75.

Rogers Communications (NYSE:RCI) opened at $49.34 on Monday. Rogers Communications has a 52 week low of $41.33 and a 52 week high of $54.95. The stock has a market capitalization of $25,400.72, a P/E ratio of 18.27, a P/E/G ratio of 3.17 and a beta of 0.92. The company has a quick ratio of 0.39, a current ratio of 0.44 and a debt-to-equity ratio of 2.00.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, January 25th. The Wireless communications provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Rogers Communications had a return on equity of 30.65% and a net margin of 12.09%. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Rogers Communications’s revenue was up 3.5% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rogers Communications by 4.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,197,101 shares of the Wireless communications provider’s stock valued at $61,696,000 after acquiring an additional 46,902 shares in the last quarter. Jane Street Group LLC boosted its position in Rogers Communications by 19.7% during the 3rd quarter. Jane Street Group LLC now owns 46,031 shares of the Wireless communications provider’s stock valued at $2,372,000 after acquiring an additional 7,586 shares in the last quarter. Bollard Group LLC boosted its position in Rogers Communications by 7.5% during the 3rd quarter. Bollard Group LLC now owns 48,010 shares of the Wireless communications provider’s stock valued at $2,474,000 after acquiring an additional 3,368 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Rogers Communications by 5.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,582,482 shares of the Wireless communications provider’s stock valued at $132,863,000 after acquiring an additional 132,934 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Rogers Communications by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 398,631 shares of the Wireless communications provider’s stock valued at $20,545,000 after acquiring an additional 10,056 shares in the last quarter. 47.27% of the stock is currently owned by institutional investors and hedge funds.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 12th will be given a dividend of $0.3843 per share. The ex-dividend date is Friday, March 9th. This represents a $1.54 annualized dividend and a yield of 3.12%. Rogers Communications’s dividend payout ratio (DPR) is presently 60.16%.

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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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