Rogers Communication RCI recently activated 5G for its customers at all remaining Toronto Transit Commission (TTC) subway stations, including the Vaughan extension tunnel. Enhanced 911 access is now available at these locations for improved reliability.
Since the introduction of Rogers 5G on the TTC subway in August, RCI’s customers have utilized more than 411 terabytes of data while riding the subway. The top three stations for data usage are Bloor/Yonge, Queen's Park and Wellesley, with peak data usage in tunnels occurring between St. George and St. Patrick stations.
In April, Rogers Communication acquired the TTC subway system's cellular network from BAI Canada and committed to investing hundreds of millions of dollars to implement 5G service and enhance 911 access across all 75 subway stations and tunnels.
In August, 5G was introduced in the busiest areas of the TTC subway for RCI’s customers and 5G service was extended to all riders in October.
Until Dec 31, TTC commuters can enjoy five complimentary rides by tapping to pay with a Rogers credit card using their mobile wallet.
Rogers Communication, Inc. Price and Consensus
Rogers Communication, Inc. price-consensus-chart | Rogers Communication, Inc. Quote
Roger’s New Wireless Program to Aid Subscriber Growth
The company has introduced a new program aimed at enhancing accessibility to 5G wireless services for eligible low-income Canadians. The new initiative, known as the Connected for Success 5G Mobile Plan, includes a no-cost 5G smartphone, providing more than 2.5 million Canadians with a more budget-friendly option to access 5G wireless services.
Additionally, Rogers Communication is providing Canadians with cost-effective options for purchasing a new phone, ensuring that they receive enhanced value for their expenditure. Customers have the opportunity to acquire a new phone using any Rogers credit card, allowing them to reduce their monthly payments by as much as 50% through a 48-month device financing plan with 0% interest and no mobile contract term.
This new program is expected to aid wireless postpaid as well as prepaid subscribers in the upcoming quarters.
The Zacks Consensus Estimate for RCI’s 2023 wireless postpaid subscribers is pegged at 6.88 million, indicating year-over-year growth of 26.2%. The Zacks Consensus Estimate for wireless prepaid subscribers is pegged at 8.58 million, indicating year-over-year growth of 7.8%.
Shares of this Zacks Rank #3 (Hold) company have declined 8.6% in the past year against the Zacks Consumer Discretionary sector’s rise of 9.8% due to fierce competition from BCE BCE and Telus TU in the field of telecommunication and Netflix NFLX in the field of video streaming.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BCE is one of the top-tier broadband, IP and voice wholesale products and services throughout Canada, as well as strategic locations in the United States and Europe. This assists in the expansion of businesses and ensures that the company can effectively address the requirements of its customers.
Telus Mobility functions as one of the largest and well known Canadian wireless network operators. The company provides wireless services across Canada through multiple networks, including 5G, LTE, and HSPA+. It is a direct competitor of RCI.
Netflix, being one of the largest streaming service providers in the world, is well known for its original content. RCI has been losing viewers to streaming service providers like Netflix in recent times.
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