Rogers Communications (NYSE:RCI) Issues Earnings Results, Beats Estimates By $0.13 EPS

Rogers Communications (NYSE:RCI) (TSE:RCI.B) released its quarterly earnings data on Tuesday. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13, Briefing.com reports. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.57 billion. Rogers Communications had a return on equity of 17.83% and a net margin of 11.46%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS.

Shares of RCI traded down $0.32 during midday trading on Thursday, reaching $50.94. The stock had a trading volume of 3,645 shares, compared to its average volume of 241,508. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 1.56. The firm has a market cap of $25.72 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.29 and a beta of 0.50. The firm has a 50 day moving average of $52.16. Rogers Communications has a 52 week low of $37.84 and a 52 week high of $53.90.

Several analysts have weighed in on RCI shares. Zacks Investment Research downgraded Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research note on Monday, June 28th. National Bank Financial reaffirmed an “outperform” rating on shares of Rogers Communications in a research note on Thursday, April 22nd. Royal Bank of Canada lifted their target price on Rogers Communications from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, April 22nd. Scotiabank lifted their target price on Rogers Communications from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, April 19th. Finally, Canaccord Genuity cut their target price on Rogers Communications from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, April 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Rogers Communications presently has an average rating of “Buy” and a consensus price target of $69.67.

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 and accessory financing, wireless home phone, device protection, text messaging, 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 10.9 million subscribers.

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Earnings History for Rogers Communications (NYSE:RCI)

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