What is Cormark's Estimate for RCI Q4 Earnings?

Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Stock analysts at Cormark issued their Q4 2024 EPS estimates for Rogers Communications in a research report issued on Tuesday, January 21st. Cormark analyst D. Mcfadgen forecasts that the Wireless communications provider will post earnings per share of $0.96 for the quarter. The consensus estimate for Rogers Communications' current full-year earnings is $3.47 per share.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Thursday, October 24th. The Wireless communications provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.35. Rogers Communications had a return on equity of 23.75% and a net margin of 7.34%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company posted $0.95 EPS. The firm's quarterly revenue was up .7% on a year-over-year basis.

Several other analysts have also commented on the stock. Barclays reissued an "equal weight" rating on shares of Rogers Communications in a research note on Tuesday. Morgan Stanley initiated coverage on Rogers Communications in a research report on Monday, December 16th. They set an "underweight" rating for the company. Finally, Bank of America cut Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.75.

Rogers Communications Price Performance

RCI stock traded down $0.17 during trading hours on Wednesday, hitting $28.10. 778,196 shares of the stock traded hands, compared to its average volume of 953,807. The stock has a 50-day simple moving average of $32.50 and a 200 day simple moving average of $36.59. The company has a market cap of $15.02 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.05 and a beta of 0.69. Rogers Communications has a one year low of $27.63 and a one year high of $48.19. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 3.35.

Rogers Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $0.3611 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.14%. Rogers Communications's dividend payout ratio is 68.78%.

Institutional Trading of Rogers Communications

Institutional investors have recently made changes to their positions in the stock. Cromwell Holdings LLC acquired a new position in Rogers Communications in the 3rd quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. raised its holdings in Rogers Communications by 110.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 996 shares of the Wireless communications provider's stock worth $37,000 after acquiring an additional 522 shares during the period. Grove Bank & Trust grew its position in shares of Rogers Communications by 41.0% in the third quarter. Grove Bank & Trust now owns 1,039 shares of the Wireless communications provider's stock valued at $42,000 after purchasing an additional 302 shares during the last quarter. Nexus Investment Management ULC bought a new position in shares of Rogers Communications in the third quarter worth about $203,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Rogers Communications during the 3rd quarter worth about $206,000. 45.49% of the stock is currently owned by institutional investors and hedge funds.

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 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.