Scotiabank Predicts Higher Earnings for Rogers Communication

Rogers Communication, Inc. (NYSE:RCI) (TSE:RCI.B) – Investment analysts at Scotiabank boosted their FY2027 EPS estimates for Rogers Communication in a report issued on Thursday, September 17th. Scotiabank analyst M. Yaghi now expects that the Wireless communications provider will earn $3.49 per share for the year, up from their prior forecast of $3.44. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Rogers Communication’s current full-year earnings is $3.29 per share.

Several other research analysts also recently commented on RCI. Barclays lowered their price objective on shares of Rogers Communication from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Weiss Ratings raised Rogers Communication from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Wall Street Zen raised Rogers Communication from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Desjardins upgraded shares of Rogers Communication from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Raymond James Financial began coverage on shares of Rogers Communication in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rogers Communication currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Rogers Communication Stock Performance

NYSE RCI opened at $35.14 on Friday. The firm’s 50 day simple moving average is $35.33 and its 200 day simple moving average is $36.13. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 4.24, a P/E/G ratio of 4.46 and a beta of 0.66. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.54. Rogers Communication has a 1 year low of $31.38 and a 1 year high of $41.14.

Rogers Communication (NYSE:RCI) (TSE:RCI.B) last released its earnings results on Wednesday, July 22nd. The Wireless communications provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Rogers Communication had a net margin of 27.54% and a return on equity of 11.56%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.

Institutional Trading of Rogers Communication

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCI. Cidel Asset Management Inc. increased its position in shares of Rogers Communication by 49.1% during the second quarter. Cidel Asset Management Inc. now owns 16,693 shares of the Wireless communications provider’s stock valued at $543,000 after acquiring an additional 5,500 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Rogers Communication by 2.5% in the 2nd quarter. Squarepoint Ops LLC now owns 21,669 shares of the Wireless communications provider’s stock worth $704,000 after purchasing an additional 524 shares during the period. Nykredit A S bought a new stake in Rogers Communication during the 2nd quarter worth approximately $1,847,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Rogers Communication in the second quarter worth $1,395,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Rogers Communication during the 1st quarter valued at about $483,000. 45.49% of the stock is owned by institutional investors.

Rogers Communication Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 8th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a yield of 5.7%. Rogers Communication’s payout ratio is 17.39%.

About Rogers Communication

Rogers Communications Inc is a Canadian communications and media company headquartered in Toronto, Ontario. Through its wireless and cable businesses, the company provides mobile voice and data services, high-speed internet, television, home phone and related connectivity services to consumers, businesses and public-sector organizations across Canada.

Rogers also operates media and entertainment businesses, including Sportsnet television and digital networks, radio stations and related publishing and digital properties.