Rogers Communications (NYSE:RCI) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Rogers Communications (NYSE:RCI) (TSE:RCI.B) released its earnings results on Tuesday. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.13, reports. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.57 billion. Rogers Communications had a net margin of 11.46% and a return on equity of 17.83%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS.

RCI traded up $0.06 during trading on Thursday, reaching $51.32. 10,585 shares of the company traded hands, compared to its average volume of 241,508. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $25.91 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.29 and a beta of 0.50. Rogers Communications has a 12-month low of $37.84 and a 12-month high of $53.90. The business’s fifty day simple moving average is $52.16.

Several equities research analysts recently issued reports on the stock. Desjardins increased their target price on shares of Rogers Communications from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, April 23rd. Royal Bank of Canada reduced their target price on shares of Rogers Communications from C$77.00 to C$76.00 and set an “outperform” rating for the company in a report on Thursday. National Bank Financial reissued an “outperform” rating on shares of Rogers Communications in a report on Thursday, April 22nd. Scotiabank increased their target price on shares of Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. Finally, Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a report on Monday, June 28th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $69.78.

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.

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Earnings History for Rogers Communications (NYSE:RCI)

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