Rogers Communications Inc. (NYSE:RCI) Expected to Post FY2022 Earnings of $2.86 Per Share

Rogers Communications Inc. (NYSE:RCIGet Rating) (TSE:RCI.B) – Research analysts at National Bank Financial decreased their FY2022 earnings per share estimates for Rogers Communications in a report issued on Sunday, June 19th. National Bank Financial analyst A. Shine now anticipates that the Wireless communications provider will post earnings per share of $2.86 for the year, down from their previous forecast of $3.21. The consensus estimate for Rogers Communications’ current full-year earnings is $3.00 per share.

Rogers Communications (NYSE:RCIGet Rating) (TSE:RCI.B) last announced its earnings results on Wednesday, April 20th. The Wireless communications provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.63 by $0.09. Rogers Communications had a return on equity of 17.67% and a net margin of 10.73%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the business posted $0.61 earnings per share. Rogers Communications’s revenue was up 3.8% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the company. Scotiabank upped their target price on Rogers Communications from C$87.00 to C$89.00 in a report on Thursday, April 21st. JPMorgan Chase & Co. upped their target price on Rogers Communications from C$78.00 to C$90.00 in a report on Thursday, April 21st. Canaccord Genuity Group raised Rogers Communications from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets increased their price objective on Rogers Communications from C$76.00 to C$80.00 in a research note on Thursday, April 21st. Finally, StockNews.com initiated coverage on Rogers Communications in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Rogers Communications has a consensus rating of “Moderate Buy” and a consensus target price of $79.33.

Shares of NYSE RCI opened at $47.36 on Wednesday. Rogers Communications has a 12 month low of $44.19 and a 12 month high of $64.55. The company has a market cap of $23.91 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 2.60 and a beta of 0.48. The company has a quick ratio of 2.32, a current ratio of 2.39 and a debt-to-equity ratio of 2.72. The business has a fifty day simple moving average of $51.59 and a 200-day simple moving average of $51.36.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 4th. Shareholders of record on Friday, June 10th will be given a $0.396 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.34%. Rogers Communications’s dividend payout ratio is currently 63.71%.

Several hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC lifted its position in shares of Rogers Communications by 18.2% in the 1st quarter. Neuberger Berman Group LLC now owns 141,963 shares of the Wireless communications provider’s stock worth $8,092,000 after acquiring an additional 21,834 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Rogers Communications by 34.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,151,634 shares of the Wireless communications provider’s stock worth $235,368,000 after buying an additional 1,055,658 shares during the period. Eaton Vance Management lifted its position in shares of Rogers Communications by 102.9% during the 1st quarter. Eaton Vance Management now owns 34,539 shares of the Wireless communications provider’s stock worth $1,958,000 after buying an additional 17,514 shares during the period. EHP Funds Inc. bought a new position in shares of Rogers Communications during the 1st quarter worth approximately $5,088,000. Finally, Guardian Capital Advisors LP lifted its position in shares of Rogers Communications by 5.8% during the 1st quarter. Guardian Capital Advisors LP now owns 225,172 shares of the Wireless communications provider’s stock worth $13,304,000 after buying an additional 12,388 shares during the period. Institutional investors own 41.73% of the company’s stock.

About Rogers Communications (Get Rating)

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 and accessory financing, wireless home phone, device protection, e-mail, global voice and data roaming, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device delivery services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands to approximately 11.3 million subscribers.

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Earnings History and Estimates for Rogers Communications (NYSE:RCI)

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