Rogers Communications (NYSE:RCI) Releases Quarterly 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 for the quarter, topping the consensus estimate of $0.63 by $0.13, Briefing.com reports. Rogers Communications had a net margin of 11.46% and a return on equity of 17.83%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $0.60 EPS. Rogers Communications’s quarterly revenue was up 13.5% compared to the same quarter last year.

Shares of NYSE RCI traded down $0.39 during midday trading on Thursday, reaching $50.87. The company’s stock had a trading volume of 3,764 shares, compared to its average volume of 241,508. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.91 and a quick ratio of 0.83. Rogers Communications has a fifty-two week low of $37.84 and a fifty-two week high of $53.90. The company has a market cap of $25.69 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.29 and a beta of 0.50. The stock has a 50 day simple moving average of $52.16.

Several research analysts recently weighed in on the stock. Desjardins lifted their price objective on shares of Rogers Communications from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, April 23rd. Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price objective on the stock. in a research note on Monday, June 28th. Scotiabank lifted their price objective on shares of Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 19th. National Bank Financial reissued an “outperform” rating on shares of Rogers Communications in a research note on Thursday, April 22nd. Finally, Canaccord Genuity cut their price target on shares of 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $69.78.

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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