Rogers Communications (NYSE:RCI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Rogers Communications (NYSE:RCI) (TSE:RCI.B) announced its quarterly earnings results on Wednesday. The Wireless communications provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01, reports. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Rogers Communications had a return on equity of 21.71% and a net margin of 2.90%.

Rogers Communications Stock Down 0.3 %

Shares of Rogers Communications stock opened at $38.04 on Friday. The business’s fifty day moving average price is $41.83 and its two-hundred day moving average price is $43.12. The company has a debt-to-equity ratio of 3.81, a current ratio of 0.89 and a quick ratio of 0.84. The company has a market capitalization of $20.11 billion, a P/E ratio of 47.55, a PEG ratio of 1.65 and a beta of 0.59. Rogers Communications has a 1-year low of $36.55 and a 1-year high of $50.00.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.3658 per share. This represents a $1.46 annualized dividend and a yield of 3.85%. The ex-dividend date is Monday, June 10th. Rogers Communications’s payout ratio is currently 183.75%.

Analyst Ratings Changes

Several analysts recently issued reports on RCI shares. Barclays cut their price target on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. StockNews.com downgraded Rogers Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Institutional Trading of Rogers Communications

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of Rogers Communications by 62.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 700 shares of the Wireless communications provider’s stock worth $27,000 after buying an additional 270 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Rogers Communications during the third quarter valued at $29,000. Fifth Third Bancorp boosted its position in Rogers Communications by 120.1% during the fourth quarter. Fifth Third Bancorp now owns 658 shares of the Wireless communications provider’s stock valued at $31,000 after purchasing an additional 359 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Rogers Communications by 120.8% in the fourth quarter. Lindbrook Capital LLC now owns 912 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 499 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Rogers Communications in the fourth quarter worth about $51,000. Institutional investors own 45.49% of the company’s stock.

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.