Rogers Communications (RCI) to Release Earnings on Wednesday

Rogers Communications (NYSE:RCI) (TSE:RCI.B) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Rogers Communications to post earnings of $0.86 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Thursday, February 1st. The Wireless communications provider reported $0.87 earnings per share (EPS) 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. On average, analysts expect Rogers Communications to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Rogers Communications Trading Down 0.6 %

Shares of NYSE:RCI opened at $37.70 on Wednesday. Rogers Communications has a 12-month low of $36.55 and a 12-month high of $50.00. The stock has a market cap of $19.92 billion, a PE ratio of 31.41, a P/E/G ratio of 1.63 and a beta of 0.59. The business has a 50 day moving average of $42.80 and a 200-day moving average of $43.15. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were issued a dividend of $0.3742 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.97%. 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%.

Analyst Upgrades and Downgrades

RCI has been the subject of several recent research reports. StockNews.com cut Rogers Communications from a “hold” rating to a “sell” rating in a research note 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 research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its position in Rogers Communications by 3.5% during the fourth quarter. 1832 Asset Management L.P. now owns 11,736,531 shares of the Wireless communications provider’s stock valued at $549,739,000 after purchasing an additional 396,045 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Rogers Communications by 2.1% during the first quarter. Vanguard Group Inc. now owns 11,396,833 shares of the Wireless communications provider’s stock worth $646,770,000 after buying an additional 238,829 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Rogers Communications by 7.8% during the fourth quarter. Mackenzie Financial Corp now owns 8,233,307 shares of the Wireless communications provider’s stock worth $384,711,000 after buying an additional 593,817 shares in the last quarter. Morgan Stanley increased its holdings in shares of Rogers Communications by 36.0% during the third quarter. Morgan Stanley now owns 4,451,922 shares of the Wireless communications provider’s stock worth $170,909,000 after buying an additional 1,177,772 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Rogers Communications by 16.1% during the first quarter. BlackRock Inc. now owns 3,281,771 shares of the Wireless communications provider’s stock worth $186,241,000 after buying an additional 455,522 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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.