Rogers Communications Inc. (NYSE:RCI) Expected to Post Earnings of $0.87 Per Share

Brokerages predict that Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) will post earnings of $0.87 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Rogers Communications’ earnings. The highest EPS estimate is $0.91 and the lowest is $0.85. Rogers Communications posted earnings of $0.83 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is scheduled to report its next quarterly earnings results before the market opens on Tuesday, July 23rd.

On average, analysts expect that Rogers Communications will report full year earnings of $3.39 per share for the current fiscal year, with EPS estimates ranging from $3.29 to $3.53. For the next financial year, analysts expect that the firm will post earnings of $3.78 per share, with EPS estimates ranging from $3.53 to $4.37. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Rogers Communications.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its earnings results on Thursday, April 18th. The Wireless communications provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.72 billion. Rogers Communications had a return on equity of 27.28% and a net margin of 13.47%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS.

Several brokerages recently issued reports on RCI. Raymond James downgraded Rogers Communications to a “market perform” rating in a report on Wednesday, February 27th. Royal Bank of Canada reissued a “hold” rating on shares of Rogers Communications in a report on Tuesday, April 9th. ValuEngine downgraded Rogers Communications from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Scotiabank downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Monday, April 22nd. Finally, Howard Weil downgraded Rogers Communications from a “sector outperform” rating to a “sector perform” rating in a report on Monday, April 22nd. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.68.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC acquired a new position in Rogers Communications during the 4th quarter worth $32,000. Van ECK Associates Corp acquired a new position in Rogers Communications during the 4th quarter worth $72,000. Signaturefd LLC boosted its position in Rogers Communications by 34.2% during the 1st quarter. Signaturefd LLC now owns 1,780 shares of the Wireless communications provider’s stock worth $96,000 after acquiring an additional 454 shares during the period. Exane Derivatives boosted its position in Rogers Communications by 107.0% during the 1st quarter. Exane Derivatives now owns 2,070 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 1,070 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Rogers Communications by 26.5% during the 1st quarter. Quadrant Capital Group LLC now owns 2,163 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 453 shares during the period. 44.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of RCI opened at $52.72 on Friday. The firm has a market cap of $27.00 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.09 and a beta of 0.56. The business has a 50 day moving average price of $52.30. The company has a current ratio of 0.67, a quick ratio of 0.60 and a debt-to-equity ratio of 1.77. Rogers Communications has a 52 week low of $46.33 and a 52 week high of $55.93.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $0.3732 dividend. This represents a $1.49 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, September 6th. Rogers Communications’s dividend payout ratio (DPR) is 44.18%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Earnings History and Estimates for Rogers Communications (NYSE:RCI)

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