Rogers Communications Inc. Forecasted to Post FY2023 Earnings of $3.41 Per Share (NYSE:RCI)

Posted by on Apr 6th, 2023

Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) – Desjardins lifted their FY2023 EPS estimates for Rogers Communications in a research report issued on Monday, April 3rd. Desjardins analyst J. Dubreuil now anticipates that the Wireless communications provider will earn $3.41 per share for the year, up from their previous forecast of $3.38. Desjardins currently has a “Hold” rating on the stock. The consensus estimate for Rogers Communications’ current full-year earnings is $3.16 per share.

Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last issued its quarterly earnings results on Thursday, February 2nd. The Wireless communications provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. Rogers Communications had a net margin of 10.90% and a return on equity of 18.14%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.08 billion.

Several other equities research analysts have also commented on the company. National Bank Financial upped their price objective on Rogers Communications from C$75.00 to C$78.00 in a research report on Thursday, January 12th. Scotiabank increased their target price on Rogers Communications from C$71.00 to C$74.75 in a research report on Tuesday, January 3rd. TD Securities increased their target price on Rogers Communications from C$76.00 to C$78.00 in a research report on Friday, February 3rd. TheStreet upgraded Rogers Communications from a “c” rating to a “b” rating in a research report on Monday, February 6th. Finally, UBS Group upgraded Rogers Communications from a “neutral” rating to a “buy” rating in a research report on Monday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.31.

Rogers Communications Trading Up 1.7 %

Rogers Communications stock opened at $47.94 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.97 and a debt-to-equity ratio of 2.96. Rogers Communications has a 12 month low of $36.23 and a 12 month high of $64.55. The stock’s 50 day simple moving average is $47.23 and its two-hundred day simple moving average is $44.77. The firm has a market cap of $24.21 billion, a PE ratio of 19.25, a P/E/G ratio of 1.75 and a beta of 0.51.

Hedge Funds Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ronald Blue Trust Inc. boosted its stake in shares of Rogers Communications by 129.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 675 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 381 shares during the period. CVA Family Office LLC purchased a new stake in Rogers Communications during the fourth quarter worth approximately $52,000. Romano Brothers AND Company acquired a new position in Rogers Communications in the fourth quarter valued at approximately $54,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted 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 valued at $99,000 after purchasing an additional 371 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Rogers Communications in the third quarter valued at approximately $100,000. Hedge funds and other institutional investors own 45.46% of the company’s stock.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were paid a $0.368 dividend. This represents a $1.47 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, March 9th. This is a boost from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio (DPR) is presently 59.04%.

About Rogers Communications

(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 postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

Featured Stories

Receive News & Ratings for Rogers Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rogers Communications and related companies with MarketBeat.com's FREE daily email newsletter.