Rogers Communications (NYSE:RCI) Releases Earnings Results, Beats Estimates By $0.33 EPS

Rogers Communications (NYSE:RCI) (TSE:RCI.B) announced its quarterly earnings data on Wednesday. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.33, Briefing.com reports. Rogers Communications had a return on equity of 23.03% and a net margin of 4.28%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year.

Rogers Communications Stock Up 2.0 %

Shares of NYSE RCI traded up $0.74 during trading on Friday, reaching $37.64. The company had a trading volume of 245,686 shares, compared to its average volume of 712,586. Rogers Communications has a 12-month low of $35.55 and a 12-month high of $48.19. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 3.67. The business’s 50-day moving average is $38.07 and its 200 day moving average is $41.21. The stock has a market cap of $19.95 billion, a PE ratio of 46.11, a P/E/G ratio of 1.00 and a beta of 0.68.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 9th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Monday, September 9th. Rogers Communications’s payout ratio is 183.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCI. Barclays reduced their price objective on Rogers Communications from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. StockNews.com raised Rogers Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Canaccord Genuity Group cut Rogers Communications from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $57.00 target price (down from $59.00) on shares of Rogers Communications in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of “Moderate Buy” and an average target price of $51.50.

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.