Rogers Communications Inc. (NYSE:RCI – Get Rating) (TSE:RCI.B) – Equities research analysts at Cormark lifted their FY2022 earnings per share (EPS) estimates for shares of Rogers Communications in a report issued on Thursday, January 26th. Cormark analyst D. Mcfadgen now anticipates that the Wireless communications provider will post earnings of $2.82 per share for the year, up from their previous estimate of $2.80. The consensus estimate for Rogers Communications' current full-year earnings is $2.70 per share. Cormark also issued estimates for Rogers Communications' Q4 2022 earnings at $0.79 EPS and FY2023 earnings at $3.22 EPS.
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Several other research analysts also recently commented on the company. TD Securities lifted their price target on Rogers Communications from C$75.00 to C$76.00 in a research report on Wednesday, December 14th. Scotiabank boosted their price objective on Rogers Communications from C$71.00 to C$74.75 in a research report on Tuesday, January 3rd. National Bank Financial boosted their price objective on Rogers Communications from C$75.00 to C$78.00 in a research report on Thursday, January 12th. Royal Bank of Canada boosted their price objective on Rogers Communications from C$68.00 to C$69.00 in a research report on Thursday, November 10th. Finally, BMO Capital Markets lowered their price objective on Rogers Communications from C$72.00 to C$70.00 in a research report on Thursday, November 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.08.
Rogers Communications Stock Performance
Shares of NYSE RCI opened at $48.56 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.39 and a debt-to-equity ratio of 3.27. The business's 50 day moving average is $46.26 and its two-hundred day moving average is $43.90. The company has a market cap of $24.52 billion, a P/E ratio of 20.37, a P/E/G ratio of 2.43 and a beta of 0.51. Rogers Communications has a 12 month low of $36.23 and a 12 month high of $64.55.
Rogers Communications (NYSE:RCI – Get Rating) (TSE:RCI.B) last issued its quarterly earnings results on Wednesday, November 9th. The Wireless communications provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.80 billion. Rogers Communications had a return on equity of 17.52% and a net margin of 10.41%.
Institutional Trading of Rogers Communications
Several institutional investors have recently bought and sold shares of the stock. Natixis Advisors L.P. boosted its stake in Rogers Communications by 110.6% in the fourth quarter. Natixis Advisors L.P. now owns 118,848 shares of the Wireless communications provider's stock worth $5,567,000 after purchasing an additional 62,427 shares in the last quarter. K.J. Harrison & Partners Inc boosted its stake in Rogers Communications by 129.5% in the fourth quarter. K.J. Harrison & Partners Inc now owns 33,658 shares of the Wireless communications provider's stock worth $2,132,907,000 after purchasing an additional 18,994 shares in the last quarter. National Bank of Canada FI boosted its stake in Rogers Communications by 117.4% in the fourth quarter. National Bank of Canada FI now owns 5,857,386 shares of the Wireless communications provider's stock worth $273,931,000 after purchasing an additional 3,163,142 shares in the last quarter. Jackson Square Capital LLC acquired a new position in Rogers Communications in the fourth quarter worth $979,000. Finally, Everett Harris & Co. CA boosted its stake in Rogers Communications by 7.8% in the fourth quarter. Everett Harris & Co. CA now owns 86,825 shares of the Wireless communications provider's stock worth $4,067,000 after purchasing an additional 6,270 shares in the last quarter. Institutional investors and hedge funds own 45.46% of the company's stock.
Rogers Communications Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 9th were paid a $0.367 dividend. This represents a $1.47 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, December 8th. Rogers Communications's dividend payout ratio is 62.61%.
About Rogers Communications
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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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