Rogers Communications Inc. (NYSE:RCI – Free Report) (TSE:RCI.B) – Investment analysts at National Bank Financial issued their Q3 2024 earnings estimates for Rogers Communications in a report released on Monday, September 30th. National Bank Financial analyst A. Shine forecasts that the Wireless communications provider will post earnings of $0.97 per share 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.
Rogers Communications (NYSE:RCI – Get Free Report) (TSE:RCI.B) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $1.16 EPS 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the company earned $0.76 EPS. Rogers Communications’s revenue for the quarter was up .9% on a year-over-year basis.
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Rogers Communications Price Performance
Shares of NYSE:RCI opened at $39.15 on Thursday. The business has a fifty day simple moving average of $39.86 and a 200-day simple moving average of $39.15. Rogers Communications has a 52 week low of $35.55 and a 52 week high of $48.19. The company has a market cap of $20.75 billion, a P/E ratio of 48.93, a P/E/G ratio of 1.06 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58.
Hedge Funds Weigh In On Rogers Communications
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank increased its holdings in Rogers Communications by 53.9% in the 2nd quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after purchasing an additional 2,206,690 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Rogers Communications by 37.5% in the first quarter. National Bank of Canada FI now owns 5,570,690 shares of the Wireless communications provider’s stock valued at $220,193,000 after buying an additional 1,519,894 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Rogers Communications by 10.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,563,054 shares of the Wireless communications provider’s stock valued at $390,738,000 after buying an additional 974,937 shares during the period. Goldman Sachs Group Inc. lifted its position in Rogers Communications by 22.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,544,016 shares of the Wireless communications provider’s stock worth $165,895,000 after acquiring an additional 660,486 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in Rogers Communications by 31.2% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,536,482 shares of the Wireless communications provider’s stock worth $93,772,000 after acquiring an additional 603,876 shares during the period. Institutional investors and hedge funds own 45.49% of the company’s stock.
Rogers Communications Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s payout ratio is currently 185.00%.
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.
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