Rogers Communications (NYSE:RCI) Announces Earnings Results

Rogers Communications (NYSE:RCI) (TSE:RCI.B) issued its quarterly earnings results on Tuesday. The Wireless communications provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.13, reports. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.57 billion. Rogers Communications had a net margin of 11.46% and a return on equity of 17.83%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS.

Shares of NYSE RCI traded up $0.14 during trading hours on Thursday, hitting $51.40. 7,107 shares of the stock were exchanged, compared to its average volume of 241,508. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 1.56. The business’s 50 day moving average is $52.16. The stock has a market cap of $25.95 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.29 and a beta of 0.50. Rogers Communications has a one year low of $37.84 and a one year high of $53.90.

A number of brokerages have recently weighed in on RCI. Zacks Investment Research lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and set a $55.00 price target for the company. in a research note on Monday, June 28th. National Bank Financial reiterated an “outperform” rating on shares of Rogers Communications in a report on Thursday, April 22nd. Scotiabank boosted their target price on shares of Rogers Communications from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. Desjardins boosted their price target on shares of Rogers Communications from $74.00 to $76.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Finally, Canaccord Genuity cut their price target on shares of Rogers Communications from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, April 22nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $69.78.

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 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 for Rogers Communications (NYSE:RCI)

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