Zacks: Brokerages Expect Rogers Communications Inc. (NYSE:RCI) Will Announce Quarterly Sales of $2.90 Billion

Brokerages predict that Rogers Communications Inc. (NYSE:RCI) (TSE:RCI.B) will post $2.90 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Rogers Communications’ earnings. The lowest sales estimate is $2.89 billion and the highest is $2.91 billion. Rogers Communications posted sales of $2.75 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 21st.

On average, analysts expect that Rogers Communications will report full-year sales of $11.64 billion for the current year, with estimates ranging from $11.57 billion to $11.72 billion. For the next year, analysts anticipate that the company will report sales of $12.59 billion, with estimates ranging from $11.93 billion to $14.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Rogers Communications.

Rogers Communications (NYSE:RCI) (TSE:RCI.B) last released its quarterly earnings results on Tuesday, July 20th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.13. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.57 billion. Rogers Communications had a return on equity of 18.42% and a net margin of 11.20%. Rogers Communications’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share.

A number of equities research analysts have recently commented on the company. TD Securities assumed coverage on Rogers Communications in a research report on Thursday, September 9th. They set a “buy” rating on the stock. Royal Bank of Canada dropped their price target on Rogers Communications from C$77.00 to C$76.00 and set an “outperform” rating on the stock in a research report on Thursday, July 22nd. Zacks Investment Research lowered Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Monday, June 28th. Finally, BMO Capital Markets dropped their target price on Rogers Communications from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $69.56.

Large investors have recently bought and sold shares of the business. AXA S.A. increased its position in shares of Rogers Communications by 33.5% during the 2nd quarter. AXA S.A. now owns 427,531 shares of the Wireless communications provider’s stock worth $22,719,000 after purchasing an additional 107,384 shares during the last quarter. BlackRock Inc. increased its position in shares of Rogers Communications by 993.1% during the 1st quarter. BlackRock Inc. now owns 147,293 shares of the Wireless communications provider’s stock worth $6,790,000 after purchasing an additional 133,818 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Rogers Communications by 10.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 31,896 shares of the Wireless communications provider’s stock worth $1,695,000 after purchasing an additional 3,000 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Rogers Communications by 154.6% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,446,899 shares of the Wireless communications provider’s stock worth $66,678,000 after purchasing an additional 878,547 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in shares of Rogers Communications by 11.9% during the 1st quarter. State of Wisconsin Investment Board now owns 873,099 shares of the Wireless communications provider’s stock worth $40,256,000 after acquiring an additional 92,627 shares during the period. 43.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE RCI traded up $1.56 during mid-day trading on Monday, reaching $48.58. 14,670 shares of the company’s stock were exchanged, compared to its average volume of 392,661. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.12 and a beta of 0.47. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.48. The business has a fifty day simple moving average of $48.79 and a 200 day simple moving average of $50.12. Rogers Communications has a twelve month low of $39.75 and a twelve month high of $53.90.

The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Thursday, September 9th were given a $0.3974 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, September 8th. Rogers Communications’s dividend payout ratio is presently 62.60%.

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 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 and Estimates for Rogers Communications (NYSE:RCI)

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