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Rogers Communications Inc Shs -B- Non-Voting RCI Stock Quote

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Morningstar‘s Stock Analysis RCI

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Is it the right time to buy or sell?

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Further Questions About Approval of the Shaw Merger Present a Buying Opportunity for Rogers’ Stock

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA |

Rogers’ business has been performing wonderfully the past several quarters—a trend we expect to continue—but issues with little impact on our fundamental valuation are weighing on the stock. Specifically, approval of the Shaw merger remains in question, and the Competition Tribunal recently ruled that Rogers’ recent network outage will be relevant to the hearings that will decide the merger’s fate. Secondarily, the July network outage will result in incremental cash outlays and potential reputational damage. We think fears about both are overblown, and the stock is now trading well below our CAD 70 fair value estimate.

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Key Statistics RCI

Company Profile RCI

Business Description

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for 60% of the company's total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about one fourth of total sales, offers home Internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers' media unit, which owns and operates various television and radio stations and the Toronto Blue Jays. Rogers' significant exposure to sports also includes ownership stakes in the Toronto Maple Leafs, Raptors, FC, and Argonauts.

333 Bloor Street East, 10th Floor
Toronto, ON, M4W 1G9, Canada
T +1 416 935-7777
Industry Telecom Services
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2021
Employees 23,000

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