Equities Analysts Set Expectations for RCI Q4 Earnings

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Equities research analysts at Cormark issued their Q4 2024 earnings per share estimates for Rogers Communications in a research note issued on Tuesday, January 21st. Cormark analyst D. Mcfadgen forecasts that the Wireless communications provider will post earnings per share of $0.96 for the quarter. The consensus estimate for Rogers Communications’ current full-year earnings is $3.47 per share.

RCI has been the topic of a number of other reports. Morgan Stanley began coverage on shares of Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. Bank of America downgraded Rogers Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Rogers Communications in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Rogers Communications currently has a consensus rating of “Hold” and a consensus price target of $61.75.

Rogers Communications Stock Performance

NYSE:RCI opened at $28.28 on Wednesday. Rogers Communications has a twelve month low of $27.63 and a twelve month high of $48.19. The company has a market cap of $15.12 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.05 and a beta of 0.69. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. The company’s 50-day moving average price is $32.65 and its 200-day moving average price is $36.65.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis.

Hedge Funds Weigh In On Rogers Communications

Large investors have recently modified their holdings of the business. Cromwell Holdings LLC purchased a new stake in Rogers Communications in the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Rogers Communications by 110.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 522 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Rogers Communications by 41.0% in the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares during the period. Nexus Investment Management ULC acquired a new position in shares of Rogers Communications in the 3rd quarter worth approximately $203,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Rogers Communications during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $0.3611 per share. The ex-dividend date was Monday, December 9th. This represents a $1.44 annualized dividend and a yield of 5.11%. Rogers Communications’s dividend payout ratio (DPR) is 68.78%.

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.