Equities Analysts Issue Forecasts for RCI Q3 Earnings

Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) – Stock analysts at Cormark issued their Q3 2024 EPS estimates for shares of Rogers Communications in a research note issued to investors on Thursday, October 17th. Cormark analyst D. Mcfadgen forecasts that the Wireless communications provider will post earnings per share of $1.04 for the quarter. The consensus estimate for Rogers Communications’ current full-year earnings is $3.56 per share.

RCI has been the topic of several other research reports. BMO Capital Markets increased their price objective on shares of Rogers Communications from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Canaccord Genuity Group reiterated a “hold” rating and issued a $57.00 price objective (down previously from $59.00) on shares of Rogers Communications in a research note on Thursday, July 25th. StockNews.com upgraded shares of Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, TD Securities raised their target price on shares of Rogers Communications from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications currently has an average rating of “Moderate Buy” and an average target price of $61.75.

Rogers Communications Price Performance

Shares of NYSE:RCI opened at $39.04 on Monday. The firm’s 50 day moving average price is $39.82 and its 200-day moving average price is $38.89. Rogers Communications has a twelve month low of $35.55 and a twelve month high of $48.19. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 3.58. The stock has a market capitalization of $20.69 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 1.06 and a beta of 0.67.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $1.16 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis.

Institutional Trading of Rogers Communications

Several institutional investors and hedge funds have recently made changes to their positions in RCI. Toronto Dominion Bank lifted its position in shares of Rogers Communications by 53.9% during the second quarter. Toronto Dominion Bank now owns 6,303,371 shares of the Wireless communications provider’s stock valued at $233,099,000 after buying an additional 2,206,690 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Rogers Communications by 37.5% during 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 during the last quarter. Mackenzie Financial Corp lifted its position in shares of Rogers Communications by 10.2% during the second 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 last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Rogers Communications by 31.2% during the second quarter. Burgundy Asset Management Ltd. now owns 2,536,482 shares of the Wireless communications provider’s stock valued at $93,772,000 after buying an additional 603,876 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of Rogers Communications by 33.8% during the second quarter. Intact Investment Management Inc. now owns 1,994,221 shares of the Wireless communications provider’s stock valued at $73,752,000 after acquiring an additional 503,550 shares in the last quarter. 45.49% of the stock is currently owned by institutional investors.

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.