Rogers Communications Inc. (NYSE: RCI – Get Rating) (TSE: RCI.B) – Analysts at National Bank Financial lowered their FY2023 EPS estimates for shares of Rogers Communications in a research report issued to clients and investors on Tuesday, June 28th. National Bank financial analyst A. Shine now forecasts that the wireless communications provider will post $ 4.03 earnings per share for the year, down from their prior estimate of $ 4.08. The consensus estimate for Rogers Communications’ current full-year earnings is $ 3.00 per share. Rogers Communications (NYSE: RCI – Get Rating) (TSE: RCI.B) last released its quarterly earnings data on Wednesday, April 20th. The Wireless communications provider reported $ 0.72 EPS for the quarter, beating the consensus estimate of $ 0.63 by $ 0.09. The business had revenue of $ 3.62 billion for the quarter, compared to the consensus estimate of $ 3.63 billion. Rogers Communications had a net margin of 10.73% and a return on equity of 17.67%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $ 0.61 earnings per share.
Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Canaccord Genuity Group upgraded Rogers Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Scotiabank upped their price target on Rogers Communications from C $ 87.00 to C $ 89.00 in a research report on Thursday, April 21st. BMO Capital Markets upped their price target on Rogers Communications from C $ 76.00 to C $ 80.00 in a research report on Thursday, April 21st. Finally, Desjardins upped their price objective on shares of Rogers Communications from C $ 72.00 to C $ 83.00 in a research report on Friday, April 22nd. Two investment analysts have rated the stock with a hold rating and eight have been issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $ 79.33.
NYSE RCI opened at $ 47.90 on Friday. The company has a market cap of $ 24.19 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.68 and a beta of 0.48. Rogers Communications has a 52 week low of $ 44.19 and a 52 week high of $ 64.55. The company has a quick ratio of 2.32, a current ratio of 2.39 and a debt-to-equity ratio of 2.72. The firm’s 50-day simple moving average is $ 50.45 and its two-hundred-day simple moving average is $ 51.44.
Large investors have recently added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd lifted its stake in Rogers Communications by 53.7% in the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 764 shares of the wireless communications provider’s stock worth $ 36,000 after acquiring an additional 267 shares during the period. EverSource Wealth Advisors LLC bought a new position in Rogers Communications in the fourth quarter worth $ 49,000. Spire Wealth Management raised its holdings in Rogers Communications by 89.6% in the fourth quarter. Spire Wealth Management now owns 1,426 shares of the wireless communications provider’s stock worth $ 68,000 after purchasing an additional 674 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Rogers Communications by 26.7% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the wireless communications provider’s stock worth $ 99,000 after purchasing an additional 371 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Rogers Communications by 25.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,544 shares of the Wireless communications provider’s stock valued at $ 121,000 after acquiring an additional 514 shares in the last quarter. 41.73% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 4th. Stockholders of record on Friday, June 10th will be paid a dividend of $ 0.396 per share. This represents a $ 1.58 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, June 9th. Rogers Communications’s dividend payout ratio (DPR) is currently 63.71%.
Rogers Communications Company Profile (Get Rating)
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, 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 under the postpaid and prepaid services the Rogers, Fido, and Chatr brands have approximately 11.3 million subscribers.
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