Scotiabank Issues Pessimistic Estimate for RCI Earnings

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Research analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for Rogers Communications in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst M. Yaghi now expects that the Wireless communications provider will earn $3.39 per share for the year, down from their prior forecast of $3.44. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share. Scotiabank also issued estimates for Rogers Communications’ FY2025 earnings at $3.22 EPS.

Several other brokerages also recently issued reports on RCI. TD Securities lifted their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. BMO Capital Markets upped their price target on Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley started coverage on shares of Rogers Communications in a research report on Monday, December 16th. They set an “underweight” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.75.

Rogers Communications Stock Down 5.1 %

Shares of NYSE RCI opened at $28.97 on Friday. The business has a 50-day moving average price of $33.62 and a 200 day moving average price of $36.99. Rogers Communications has a 52-week low of $28.95 and a 52-week high of $48.19. The stock has a market cap of $15.48 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 3.35.

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

Hedge Funds Weigh In On Rogers Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. JPMorgan Chase & Co. lifted its position in Rogers Communications by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 1,728,836 shares of the Wireless communications provider’s stock worth $69,516,000 after purchasing an additional 15,609 shares during the period. Franklin Resources Inc. raised its stake in shares of Rogers Communications by 25.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,900 shares of the Wireless communications provider’s stock valued at $423,000 after purchasing an additional 2,232 shares during the period. Tidal Investments LLC bought a new position in shares of Rogers Communications during the 3rd quarter worth approximately $248,000. Geode Capital Management LLC grew its holdings in shares of Rogers Communications by 10.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,633,981 shares of the Wireless communications provider’s stock valued at $66,176,000 after acquiring an additional 156,217 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Rogers Communications during the third quarter valued at approximately $2,559,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

Rogers Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $0.3611 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Monday, December 9th. Rogers Communications’s dividend payout ratio is presently 68.78%.

Rogers Communications Company Profile

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.