Zacks: Analysts Expect Rogers Communications Inc. (NYSE:RCI) Will Announce Quarterly Sales of $3.01 Billion

Analysts forecast that Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) will announce $3.01 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Rogers Communications’ earnings, with estimates ranging from $3.00 billion to $3.03 billion. Rogers Communications posted sales of $2.98 billion in the same quarter last year, which suggests a positive year over year growth rate of 1%. The business is expected to announce its next earnings report on Thursday, January 23rd.

On average, analysts expect that Rogers Communications will report full year sales of $11.46 billion for the current financial year, with estimates ranging from $11.39 billion to $11.50 billion. For the next year, analysts forecast that the firm will report sales of $11.61 billion, with estimates ranging from $11.40 billion to $11.73 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Rogers Communications.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last issued its quarterly earnings data on Wednesday, October 23rd. The Wireless communications provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.19. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.87 billion. Rogers Communications had a net margin of 13.79% and a return on equity of 25.20%. Rogers Communications’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company earned $1.21 earnings per share.

RCI has been the subject of several recent analyst reports. Royal Bank of Canada upgraded Rogers Communications from a “sector perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Thursday, October 24th. ValuEngine upgraded Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Zacks Investment Research downgraded Rogers Communications from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a report on Tuesday, September 24th. Finally, TD Securities upgraded Rogers Communications to a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Rogers Communications has a consensus rating of “Hold” and an average target price of $63.52.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Rogers Communications by 4.1% during the 2nd quarter. US Bancorp DE now owns 6,102 shares of the Wireless communications provider’s stock worth $327,000 after buying an additional 240 shares during the period. M&T Bank Corp boosted its holdings in shares of Rogers Communications by 0.6% during the 2nd quarter. M&T Bank Corp now owns 41,438 shares of the Wireless communications provider’s stock worth $2,218,000 after buying an additional 247 shares in the last quarter. Neuburgh Advisers LLC grew its position in shares of Rogers Communications by 12.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 2,352 shares of the Wireless communications provider’s stock worth $121,000 after buying an additional 256 shares during the period. Willingdon Wealth Management grew its position in shares of Rogers Communications by 23.4% during the 3rd quarter. Willingdon Wealth Management now owns 1,549 shares of the Wireless communications provider’s stock worth $75,000 after buying an additional 294 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of Rogers Communications by 12.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 3,234 shares of the Wireless communications provider’s stock valued at $166,000 after acquiring an additional 352 shares in the last quarter. 43.65% of the stock is owned by institutional investors.

Rogers Communications stock traded up $0.06 during midday trading on Monday, hitting $48.42. 12,517 shares of the stock were exchanged, compared to its average volume of 425,452. Rogers Communications has a 1 year low of $45.94 and a 1 year high of $55.93. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.71 and a quick ratio of 0.65. The firm has a market cap of $24.67 billion, a P/E ratio of 14.45, a P/E/G ratio of 3.80 and a beta of 0.50. The company has a 50 day moving average price of $47.85 and a two-hundred day moving average price of $50.64.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.378 per share. This is a positive change from Rogers Communications’s previous quarterly dividend of $0.37. This represents a $1.51 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, December 10th. Rogers Communications’s dividend payout ratio (DPR) is currently 44.78%.

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 Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.

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Earnings History and Estimates for Rogers Communications (NYSE:RCI)

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