Rogers Communications Inc. (NYSE:RCI) Expected to Earn Q3 2024 Earnings of $0.97 Per Share

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – National Bank Financial issued their Q3 2024 earnings per share estimates for Rogers Communications in a research note issued on Monday, September 30th. National Bank Financial analyst A. Shine expects that the Wireless communications provider will post earnings per share of $0.97 for the quarter. The consensus estimate for Rogers Communications’ current full-year earnings is $3.57 per share. National Bank Financial also issued estimates for Rogers Communications’ FY2024 earnings at $3.49 EPS.

Other equities analysts have also issued research reports about the company. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. BMO Capital Markets raised their price objective on Rogers Communications from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. TD Securities raised their price objective on Rogers Communications from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group lowered Rogers Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $57.00 price target (down from $59.00) on shares of Rogers Communications in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

Rogers Communications Stock Performance

Shares of Rogers Communications stock opened at $39.01 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $20.68 billion, a P/E ratio of 48.76, a P/E/G ratio of 1.06 and a beta of 0.67. The business has a fifty day simple moving average of $39.92 and a two-hundred day simple moving average of $39.12. Rogers Communications has a 12 month low of $35.55 and a 12 month high of $48.19.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last announced its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.33. Rogers Communications had a return on equity of 23.15% and a net margin of 4.28%. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The firm’s revenue was up .9% on a year-over-year basis.

Rogers Communications Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th were issued a dividend of $0.365 per share. The ex-dividend date was Monday, September 9th. This represents a $1.46 annualized dividend and a dividend yield of 3.74%. Rogers Communications’s payout ratio is presently 185.00%.

Hedge Funds Weigh In On Rogers Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Rogers Communications in the 3rd quarter worth about $323,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rogers Communications in the 2nd quarter worth about $9,589,000. Brandes Investment Partners LP increased its holdings in Rogers Communications by 45.1% in the 2nd quarter. Brandes Investment Partners LP now owns 37,273 shares of the Wireless communications provider’s stock worth $1,378,000 after buying an additional 11,591 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 522 shares in the last quarter. Finally, Creative Planning increased its holdings in Rogers Communications by 50.8% in the 2nd quarter. Creative Planning now owns 21,796 shares of the Wireless communications provider’s stock worth $806,000 after buying an additional 7,338 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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.