Rogers Communications (RCI) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on Jul 19th, 2023

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) is set to issue its quarterly earnings data before the market opens on Wednesday, July 26th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, April 26th. The Wireless communications provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Rogers Communications had a return on equity of 19.36% and a net margin of 11.49%. On average, analysts expect Rogers Communications to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Rogers Communications Trading Up 2.0 %

RCI opened at $44.83 on Wednesday. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.21 and a beta of 0.52. The stock’s 50 day moving average price is $45.49 and its 200-day moving average price is $46.96. Rogers Communications has a one year low of $36.23 and a one year high of $50.16. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.85 and a current ratio of 1.91.

Rogers Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 9th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, June 8th. This represents a $1.48 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. Rogers Communications’s dividend payout ratio is currently 56.11%.

Institutional Trading of Rogers Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of Rogers Communications by 452.6% during the third quarter. Alliancebernstein L.P. now owns 1,280,731 shares of the Wireless communications provider’s stock worth $49,359,000 after purchasing an additional 1,048,976 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Rogers Communications by 106.9% during the first quarter. Schonfeld Strategic Advisors LLC now owns 1,939,079 shares of the Wireless communications provider’s stock valued at $89,896,000 after purchasing an additional 1,001,888 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in Rogers Communications in the fourth quarter worth $31,743,000. Mackenzie Financial Corp lifted its holdings in Rogers Communications by 7.8% in the fourth quarter. Mackenzie Financial Corp now owns 8,233,307 shares of the Wireless communications provider’s stock valued at $384,711,000 after acquiring an additional 593,817 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Rogers Communications by 97.6% in the first quarter. Two Sigma Investments LP now owns 1,023,182 shares of the Wireless communications provider’s stock worth $47,435,000 after buying an additional 505,500 shares during the period. 40.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RCI has been the topic of several research reports. Barclays began coverage on Rogers Communications in a research report on Monday, May 8th. They issued an “overweight” rating on the stock. StockNews.com upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating in a research report on Friday, July 14th. Finally, Desjardins downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.31.

Rogers Communications Company Profile

(Get Free Report)

Rogers Communications Inc operates as a communications and media company in North America. 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 services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.