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.
Aggressive exploration in proven districts may catapult this lithium explorer to the top.
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.
Further Reading: Asset Allocation
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Rogers Communications right now?
Before you consider Rogers Communications, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rogers Communications wasn’t on the list.
While Rogers Communications currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.