Desjardins Cuts Earnings Estimates for Rogers Communications

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Desjardins lowered their Q4 2024 EPS estimates for Rogers Communications in a research report issued on Wednesday, October 16th. Desjardins analyst J. Dubreuil now anticipates that the Wireless communications provider will earn $0.91 per share for the quarter, down from their previous forecast of $0.93. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share.

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

Rogers Communications Price Performance

NYSE RCI opened at $39.07 on Monday. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 48.84, a PEG ratio of 1.06 and a beta of 0.67. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.65 and a quick ratio of 0.60. The stock’s fifty day moving average price is $39.84 and its 200 day moving average price is $38.90. Rogers Communications has a 1 year low of $35.55 and a 1 year high of $48.19.

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

Rogers Communications Cuts Dividend

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

Institutional Investors Weigh In On Rogers Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in RCI. Northwestern Mutual Wealth Management Co. boosted its holdings in Rogers Communications by 110.1% during the second 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. Ridgewood Investments LLC acquired a new position in shares of Rogers Communications in the second quarter worth about $37,000. Headlands Technologies LLC purchased a new stake in shares of Rogers Communications during the 1st quarter worth about $42,000. Grove Bank & Trust grew its position in shares of Rogers Communications by 41.0% during the 3rd quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 302 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Rogers Communications in the 2nd quarter valued at about $55,000. Institutional investors and hedge funds own 45.49% of the company’s stock.

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 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.