National Bank Financial Analysts Boost Earnings Estimates for Rogers Communications Inc. (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at National Bank Financial boosted their FY2024 EPS estimates for Rogers Communications in a research report issued on Wednesday, April 24th. National Bank Financial analyst A. Shine now expects that the Wireless communications provider will earn $3.37 per share for the year, up from their previous estimate of $3.36. The consensus estimate for Rogers Communications’ current full-year earnings is $3.53 per share.

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

Rogers Communications Trading Down 0.2 %

Shares of NYSE RCI opened at $37.96 on Monday. The company’s 50 day simple moving average is $41.67 and its 200 day simple moving average is $43.17. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00. The firm has a market capitalization of $20.06 billion, a P/E ratio of 47.45, a P/E/G ratio of 1.64 and a beta of 0.59. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.77 and a quick ratio of 0.84.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.64 billion.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 10th will be given a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, June 10th. Rogers Communications’s dividend payout ratio is 183.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RCI. SG Americas Securities LLC acquired a new position in Rogers Communications during the third quarter worth approximately $827,000. Cigna Investments Inc. New grew its position in shares of Rogers Communications by 4.9% in the third quarter. Cigna Investments Inc. New now owns 6,851 shares of the Wireless communications provider’s stock valued at $265,000 after purchasing an additional 317 shares during the last quarter. Everett Harris & Co. CA grew 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 valued at $3,440,000 after purchasing an additional 2,580 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its position in shares of 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 last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Rogers Communications by 5.8% in the third quarter. Mackenzie Financial Corp now owns 9,148,044 shares of the Wireless communications provider’s stock valued at $339,007,000 after purchasing an additional 505,427 shares during the last quarter. Institutional investors own 45.49% of the company’s stock.

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.