Cormark Expects Reduced Earnings for Rogers Communications

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Investment analysts at Cormark decreased their FY2025 earnings per share (EPS) estimates for shares of Rogers Communications in a report issued on Thursday, January 9th. Cormark analyst D. Mcfadgen now expects that the Wireless communications provider will earn $3.73 per share for the year, down from their prior forecast of $3.75. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share.

A number of other brokerages also recently commented on RCI. Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They issued an “underweight” rating on the stock. TD Securities increased their price objective on Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Bank of America cut shares of Rogers Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets increased their price target on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.75.

Rogers Communications Trading Down 2.8 %

NYSE RCI opened at $28.54 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35. Rogers Communications has a 1-year low of $27.63 and a 1-year high of $48.19. The firm’s fifty day simple moving average is $33.30 and its 200-day simple moving average is $36.88. The company has a market capitalization of $15.25 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings data on Thursday, October 24th. The Wireless communications provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.35. Rogers Communications had a net margin of 7.34% and a return on equity of 23.75%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue was up .7% on a year-over-year basis.

Rogers Communications Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $0.3611 per share. The ex-dividend date was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a yield of 5.06%. Rogers Communications’s payout ratio is currently 68.78%.

Hedge Funds Weigh In On Rogers Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Rogers Communications by 371.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,053,559 shares of the Wireless communications provider’s stock worth $203,334,000 after buying an additional 3,980,525 shares during the period. Toronto Dominion Bank lifted its position in Rogers Communications by 53.9% during the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock worth $233,099,000 after acquiring an additional 2,206,690 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Rogers Communications by 90.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,896,489 shares of the Wireless communications provider’s stock valued at $115,775,000 after acquiring an additional 1,375,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Rogers Communications by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,610,833 shares of the Wireless communications provider’s stock valued at $104,965,000 after purchasing an additional 1,211,482 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Rogers Communications by 18.6% in the third quarter. National Bank of Canada FI now owns 6,239,553 shares of the Wireless communications provider’s stock worth $250,886,000 after purchasing an additional 977,924 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.

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 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 and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.