Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Equities research analysts at Cormark increased their FY2022 EPS estimates for Rogers Communications in a research report issued on Friday, January 28th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will earn $3.37 per share for the year, up from their prior estimate of $3.22. Cormark also issued estimates for Rogers Communications’ FY2023 earnings at $3.80 EPS. Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Thursday, January 27th. The Wireless communications provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.22. Rogers Communications had a net margin of 11.09% and a return on equity of 18.12%. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The business’s revenue was up 6.5% on a year-over-year basis.
A number of other research firms have also commented on RCI. TD Securities boosted their price target on shares of Rogers Communications from C$70.00 to C$75.00 in a research report on Friday. Desjardins upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada lowered shares of Rogers Communications from an “outperform” rating to a “sector perform” rating in a research report on Monday, October 25th. BMO Capital Markets increased their price objective on shares of Rogers Communications from C$68.00 to C$72.00 in a report on Friday. Finally, National Bank Financial increased their price objective on shares of Rogers Communications from C$69.00 to C$74.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $71.25.
NYSE:RCI opened at $51.07 on Monday. The firm has a market cap of $25.79 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.36 and a beta of 0.50. Rogers Communications has a 12 month low of $43.18 and a 12 month high of $53.90. The company has a quick ratio of 0.73, a current ratio of 0.78 and a debt-to-equity ratio of 1.44. The company’s 50-day moving average price is $47.22 and its two-hundred day moving average price is $48.36.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Thursday, March 10th will be issued a $0.396 dividend. This represents a $1.58 annualized dividend and a yield of 3.10%. The ex-dividend date is Wednesday, March 9th. Rogers Communications’s dividend payout ratio is currently 63.16%.
Institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp boosted its position in Rogers Communications by 0.8% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 33,665 shares of the Wireless communications provider’s stock worth $1,792,000 after buying an additional 251 shares during the period. Advisors Management Group Inc. ADV lifted its position in shares of Rogers Communications by 0.7% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 38,709 shares of the Wireless communications provider’s stock valued at $1,805,000 after acquiring an additional 267 shares during the period. Natixis Advisors L.P. lifted its position in shares of Rogers Communications by 1.3% during the 2nd quarter. Natixis Advisors L.P. now owns 22,708 shares of the Wireless communications provider’s stock valued at $1,207,000 after acquiring an additional 297 shares during the period. American Century Companies Inc. increased its stake in Rogers Communications by 1.8% during the 3rd quarter. American Century Companies Inc. now owns 20,271 shares of the Wireless communications provider’s stock valued at $947,000 after purchasing an additional 357 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in Rogers Communications by 10.7% during the 2nd quarter. Advisor Partners LLC now owns 5,043 shares of the Wireless communications provider’s stock valued at $268,000 after purchasing an additional 486 shares in the last quarter. 42.28% of the stock is currently owned by institutional investors.
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 and accessory financing, wireless home phone, device protection, text messaging, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 10.9 million subscribers.
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