Rogers Communications Inc Shs -B- Non-Voting (RCI) Quote - XNYS | Morningstar

Skip to Content

Is it the right time to buy or sell?

Find out with Morningstar Premium

Is it the right time to buy or sell?

Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Rogers Board Drama Is Messy and Intriguing, but Doesn’t Change Our Outlook for the Company

Equity Analyst Matthew Dolgin

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA | Oct 22, 2021

Leaks and rumors behind what led to the abrupt departure of Rogers CFO Tony Staffieri last month have been all but confirmed in recent days through a public spat among board members. The drama is likely even more intriguing considering the split between board members also represents a family feud within the Rogers family, which controls the company. It appears Ed Rogers, who was removed as chairman on Oct. 21, will drag this fight on, and a court will likely determine the outcome considering the firm’s complicated ownership structure. But for the moment, CEO Joe Natale appears to have survived an attempted ouster by Ed Rogers, and we don’t expect any deviation in the firm’s path forward. We are maintaining our CAD 68 fair value estimate.

Read Full Analysis

Company Profile

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 over 60% of the company's total sales in 2020 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.

Contact

333 Bloor Street East, 10th Floor
Toronto, ON, M4W 1G9, Canada

T +1 416 935-7777

Sector Communication Services

Industry Telecom Services

Most Recent Earnings Sep 30, 2021

Fiscal Year End Dec 31, 2021

Stock Type —

Employees 25,300

Related

A Top Stock in Telecom

We think this company is well-positioned to increase market share.

Premium Article

16 Overpriced Stocks With Eroding Moats

These narrow-moat stocks all have negative moat trends and are trading at 1- or 2-star levels.

Susan Dziubinski

Quarter-End Insights

Credit Market Outlook: Tight Spreads Will Keep a Lid on Returns

As credit spreads have tightened on a nearly continuous trend over the past year, they are becoming richly valued relative to their historical average.

Stock Strategist

ADT's Moat Less Secure

The home security company faces an onslaught of new competition.

What Investors Were Researching in September

International opportunities, income, and M&A activity were on investors' minds in September.

Verizon Deal No Reason to Hang Up on Telecom Dividends

Verizon's wireless buyout could shake up things for Vodafone shareholders, but the telecom industry is positioned to remain profitable and have good dividend yields, says DividendInvestor editor Josh Peters.

What Investors Were Researching in June

Interest in dividend-paying stocks and bonds remained high as the market eyed the Fed.

Stock Strategist Industry Reports

Canada Still a Very Compelling Backdrop for Telecom Investing

Key operational trends suggest the Big Three incumbents' economic moats are intact.

Credit Insights

Corporate-Bond Markets Yawn at Bernanke, While Sequester Generally a Non-Event

While the sequester will affect some sectors more than others, it won't have a significant near-term impact on the corporate credit markets, says Morningstar's Dave Sekera.

Stock Strategist Industry Reports

International Telecom Stocks to Watch in 2013

Our trip around the world signals which wireless carriers could make good investments.

Credit Insights

Accommodative Monetary Policy = Risk On

Investors took the Fed's recent statement as a green light to reach for yield as long as credit remains easy.

Quarter-End Insights

Our Outlook for Tech Stocks

Japan's crisis introduces near-term uncertainty.

Credit Insights

What Is Bill Gross Really Thinking?

The timing of the PIMCO manager's move out of Treasuries so many months before the Fed is scheduled to end its bond purchase program strikes us as odd.

Credit Insights

Market Seems More Wary of Financials

Credit spreads for nonfinancial issuers (especially those in defensive sectors) held up better last week than financials, which widened significantly versus the rest of the market.

Daily Dividend Report: RCI, MTB, XTO, CCE, SHW

Market News Video

Quarter-End Insights

Our Outlook for Technology & Telecom Stocks

Current prices offer very little margin of safety in the tech sector.

Stock Strategist Industry Reports

Looking at Telcos through a Different Lens

AMPU allows us to gain a tighter grasp on the economic reality of the industry.

Stock Strategist Industry Reports

Telecom Evolving Into a Defensive Industry

Investments in telecom stocks are more defensive than most might think.

Stock Strategist

Four Great Reasons to Look Abroad for Wireless Stocks

These firms are financially fit and poised to weather the downturn.

Jacqueline Zhang

Stock Strategist Industry Reports

Four Great Reasons to Look Abroad for Wireless Stocks

These firms are financially fit and poised to weather the downturn.

Jacqueline Zhang

Transparency is our policy. Learn how it impacts everything we do.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your personal data

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

Verify your identity, personalize the content you receive, or create and administer your account.
Provide specific products and services to you, such as portfolio management or data aggregation.
Develop and improve features of our offerings.
Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

How we approach editorial content

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.