Rogers Communications (NYSE:RCI) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

Rogers Communications (NYSE:RCI) (TSE:RCI.B) posted its earnings results on Wednesday. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.83 by $0.33, Briefing.com reports. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.14 billion. Rogers Communications had a net margin of 2.90% and a return on equity of 21.92%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS.

Rogers Communications Stock Up 0.6 %

Shares of RCI stock traded up $0.23 during mid-day trading on Thursday, reaching $37.25. 349,879 shares of the company’s stock traded hands, compared to its average volume of 712,559. Rogers Communications has a 12 month low of $35.55 and a 12 month high of $48.19. The company has a market cap of $19.74 billion, a P/E ratio of 46.28, a P/E/G ratio of 1.01 and a beta of 0.68. 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 company’s 50-day moving average price is $38.13 and its 200-day moving average price is $41.24.

Rogers Communications Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 9th will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, September 9th. Rogers Communications’s dividend payout ratio (DPR) is presently 183.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Rogers Communications from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. StockNews.com raised shares of Rogers Communications from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Canaccord Genuity Group downgraded shares of Rogers Communications from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $57.00 price objective (down from $59.00) on shares of Rogers Communications in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.