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Rogers Communications Inc. (RCI)
- SmarterAnalyst
Shaw Communications’ 2Q EPS and Revenue Beat Estimates
Shaw Communications posted better-than-expected revenue and profit in the second quarter driven by the addition of new wireless customers. Shaw Communications (SJR.B) reported a 34.4% year-over-year increase in EPS of C$0.43 per share,topping consensus estimates of C$0.34 . In addition, total revenues increased 1.8% to C$1.39 billion, beating analysts' estimates of C$1.38 billion. On March 15, 2021, Shaw announced that it had reached an agreement with Rogers Communications (RCI.B) to acquire all of Shaw’s issued and outstanding Class A Shares and Class B Shares for C$40.50 per share. Shaw Communications’ CEO Brad Shaw said, "Under a combined Rogers and Shaw entity, we will enable the scale, assets and capabilities to accelerate unprecedented investment, to help close the connectivity gap faster in rural, remote and Indigenous communities, and to deliver new technology and more choice for consumers and businesses, more quickly than either could achieve on its own. All Canadians deserve world class connectivity." The company added approximately 82,300 new wireless customers in the quarter ended February 28, 2021. (See Shaw Communications stock analysis on TipRanks) Following the 2Q results, BMO Capital analyst Tim Casey reiterated a Hold rating on the stock with a C$50.66 price target (47.4% upside potential). Last month, Desjardins analyst Jerome Dubreuil initiated coverage of Shaw Communications with a $C40.50 price target (17.8% upside potential). In a research note, Dubreuil told investors he believes the stock is trading primarily on the likelihood that regulators will approve the takeout by Rogers. He views the deal as "quite likely" given the limited regulatory risk and the possible divestment of Shaw's wireless assets by Rogers. Overall, Shaw Communications stock scores a Moderate Buy analyst consensus rating based on 4 Buys and 2 Holds. The average analyst price target of C$43.89 implies upside potential of about 27.5% to current levels. Related News: Cogeco Communications Reports Higher Revenue And Lower Profit In 2Q OpSens Posts Record FFR And dPR Sales In 2Q Aphria’s 3Q Sales and EPS Miss Estimates; Shares Plunge 14% More recent articles from Smarter Analyst: AutoCanada Announces Add-On Offering Of C$100M Senior Notes Kimco Snaps Up Weingarten In Deal Valued At $4B TSMC’s 1Q Results Beat Estimates; Street Says Hold Costco Bumps Up Quarterly Dividend By 12.9%
- GlobeNewswire
Rogers Ranked by Ookla as Canada’s Most Consistent National Wireless and Broadband Provider, with Fastest Internet in Ontario and New Brunswick
For a third quarter in a row, Canada’s most trusted and most reliable wireless network delivers the most consistent speeds of any national carrier¹ Canada’s largest and most reliable 5G network ranks first for highest time spent on 5G TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- As reliable, consistent connectivity continues to play a critical role in Canadians’ lives, Rogers today announced that for the third quarter in a row, its mobile and fixed broadband networks keep delivering customers the most consistent speeds of any national wireless network or top internet provider in Canada as confirmed by Ookla®, the global leader in fixed broadband and mobile network testing applications. In Ookla’s Speedtest Intelligence® results for Q1 2021, Rogers has also once again been named the fastest fixed broadband service in Ontario and New Brunswick. With the fastest speeds in these provinces, Rogers Ignite Internet customers can enjoy the benefits of connecting more devices simultaneously at home, whether for entertainment, gaming, remote working, or online learning. Also released in its Q1 report, Rogers ranks first for highest time spent on 5G, indicating that Rogers 5G customers experience more time on Canada’s largest and most reliable 5G network than any other 5G customers in Canada. Rogers 5G network is now available in 173 cities and towns across Canada, with more cities launched today. “Once again, we are proud to offer Canadians an award-winning experience on both our wireless and broadband networks, at a time when connectivity continues to be more important than ever,” said Jorge Fernandes, Chief Technology Officer at Rogers Communications. “Today’s Speedtest Intelligence® results from Ookla are further proof that investing in our networks not only supports the needs of Canadians today, but will help ensure our customers enjoy the best in connectivity well into the future and as we continue to expand Canada’s largest, most reliable 5G network.” Ookla, the global leader in fixed broadband and mobile network testing applications, aggregates millions of consumer-initiated tests through its app and website to measure mobile and internet consistency and speed. Ookla assesses the average of download and upload test results to rank network speed performance. Consistency Score™ measures what percentage of a provider’s samples equals or exceeds both a download and upload threshold that best supports the applications and experiences consumers use most (mobile threshold: 5 Mbps download and 1 Mbps upload; fixed threshold: 25 Mbps download and 3 Mbps upload). Today’s results2 are based on analysis by Ookla taken from January through March 2021. Rogers was the fastest fixed broadband provider in Ontario and New Brunswick for Q1 2021 with Median Download Speeds of 150.22 in Ontario and 175.27 in New Brunswick. Rogers Internet had the highest Consistency Score in Canada with 88.9%. Canada’s most reliable LTE network also achieved the top national wireless network Consistency Score of 88.7%. In addition, Rogers ranked number one for Ookla’s 5G Time Spent metric which captures the average percentage of time when subscribers’ 5G capable Android devices are connected to 5G. At 28.8%, Rogers 5G Time Spent was 10 percentage points higher than the nearest competitor. From providing Canada’s largest and most reliable 5G network in more than 170 cities and towns across the country, to offering up to 1 gigabit download speeds on Ignite Internet, to its leading IPTV service, today’s announcement builds on Rogers legacy of innovation and helps keep more Canadians connected3. Rogers has invested $60 billion in its networks over the past 35 years. In 2020, the company was awarded the best wireless network in Canada for the second year in a row by umlaut, the global leader in mobile network testing and benchmarking. Rogers was also ranked number one in the West and Ontario in the J.D. Power 2020 Canada Wireless Network Quality Study. Ookla Speedtest Intelligence Results for Q3 and Q4 2020 as well as Q1 2021 reported that Rogers delivers the most consistent wireless and broadband speeds of any national carrier. About RogersRogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com. For more informationmedia@rci.rogers.com1-844-226-1338 1 Most Reliable based on umlaut performance benchmark audit of Canadian mobile networks, June 2020; Most Trusted based on total wireless subscribers2 Ookla® Speedtest Intelligence® data for Q1 2021 https://www.speedtest.net/global-index/canada?fixed#market-analysis3 Largest based on total square kilometers of Rogers 5G coverage compared to published coverage of other national networks
- GlobeNewswire
Rogers Expands 5G Network in the West and Ontario and Powers Canada’s First 5G Drone Flight
Canada’s largest and most reliable 5G network reaches even more cities and towns across Manitoba and Ontario1 In collaboration with InDro Robotics and the University of British Columbia, Rogers for Business continues on its 5G innovation path marking the first drone flight on 5G in the country TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- Rogers Communications today announced it is expanding Canada’s largest and most reliable 5G network to now reach residents and businesses in Selkirk and Steinbach, Manitoba and St. Catharines, Ontario. Rogers 5G, powered exclusively by Ericsson, reaches 173 cities and towns nationwide offering 5G access to nearly half of Canada. As Rogers launches 5G across the country, it continues to prove the strength of its wireless and broadband networks, based on the latest network benchmarking report released today by Ookla®. Also announced today, Rogers for Business worked with InDro Robotics and the University of British Columbia’s MéridaLabs to complete Canada’s first remotely piloted aircraft system (RPAS) flight over a 5G network at the UBC campus in Vancouver, BC. 5G will enable the ability to fly drones on autonomous missions from remote command centres connected over a 5G network. The 5G infrastructure Rogers has installed at UBC is enabling researchers and partners to explore future innovations, including parcel tracking, scheduling, and delivery by drone. 5G drones are expected to provide untapped services for a number of industries including agriculture, natural resources, infrastructure and utilities, construction, first responders and more2. Today’s announcement with InDro Robotics and UBC is supported by Rogers multi-year partnership with the university to research, incubate and commercialize 5G applications in Canada. Rogers continues to make network and innovation investments throughout Western Canada. As part of the company’s future plans, Rogers will continue to invest in the West through the agreement to combine Rogers Communications with Shaw Communications, enabling the combined company to build critically needed 5G networks, bridge the digital divide, and connect underserved rural and Indigenous communities. Quotes:“We’re focused on bringing 5G connectivity to even more Canadian residents and businesses to help drive economic prosperity in our communities,” said Jorge Fernandes, Chief Technology Officer at Rogers Communications. “As we continue investing in our award-winning networks and Canada’s 5G ecosystem, we’ll begin to see more 5G use cases come to life that will play a critical role in transforming and evolving entire industries across the country.” “Over the last 12 months, wireless connectivity has become an even bigger part of critical infrastructure – helping our residents work, study and socialize online at unprecedented levels. Investments into more robust technology like this are critical for individuals and businesses alike, and we’re pleased to see St. Catharines included in Rogers’ map of 5G communities.” – Mayor Walter Sendzik, City of St. Catharines “By being a regional hub, tourist destination and gateway to the lakes, people and businesses in Selkirk need top notch mobile service that matches the other top notch services our city provides. The 5G network is an enhancement that will help support long-term success for a strong and stable local economy. We are excited to be a part of this expansion that brings faster download speeds, more capacity and lower latency.” - Mayor Larry Johannson, City of Selkirk “Access to 5G for drones is the step we needed to unleash the potential for drones to become far more productive,” said Philip Reece, President and CEO of InDro Robotics. “The amount of data that can be exchanged at near zero latency means we can now separate the pilot and crew from being on scene with the drone, engineers can carry out critical infrastructure inspection from their office increasing speed of response and safety. First responders will be able to gain great situational awareness before they arrive at an accident and share valuable information back to incident command live from the scene.” “This RPAS research is just one example of how 5G opens up new applications with significant societal benefit. 5G drones can be routinely used in the near future to monitor wildfires or assist in medical supplies delivery. They can be enlisted to provide security services and deployed during times of crisis and natural disasters. 5G enables us to explore many of the challenges and opportunities that will emerge as transportation and civil infrastructures become smart and interconnected.” - Walter Mérida, UBC professor in the faculty of applied science and lead, MéridaLabs Quick Facts: About 5G 5G will support a massive increase in the number of connected devices that require real-time connectivity for applications like earthquake prevention using AI and machine learning, autonomous mining and smart city applications such as mass drone delivery services.Wireless industry investments in 5G networks are expected to contribute an estimated $40 billion annually to the country’s economy and 250,000 permanent new jobs by 2026.3 Rogers Award-Winning Network Announced today, for the third quarter in a row, Rogers ranked Canada’s most consistent national wireless network and broadband provider by Ookla® with fastest Internet speeds in Ontario and New Brunswick.4 Rogers was awarded the best wireless network in Canada for the second year in a row in 2020 by umlaut. Rogers was ranked number one in the West and Ontario in the J.D. Power 2020 Canada Wireless Network Quality Study. Rogers has invested over $30 billion over the past 35 years to build Canada’s most trusted and reliable wireless network. About RogersRogers is a proud Canadian company dedicated to making more possible for Canadians each and every day. Our founder, Ted Rogers, purchased his first radio station, CHFI, in 1960. We have grown to become a leading technology and media company that strives to provide the very best in wireless, residential, sports, and media to Canadians and Canadian businesses. Our shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). If you want to find out more about us, visit about.rogers.com. For more informationmedia@rci.rogers.com1-844-226-1338 1 Rogers was ranked first in the umlaut Mobile Data Performance audit in major Canadian cities in Q4, 2020. Visit www.umlaut.com/en/benchmarking/canada. Largest based on total square kilometers of Rogers 5G coverage compared to published coverage of other national networks.2 https://ospe.on.ca/wp-content/uploads/2020/03/Growing-the-Drone-Industry-in-Ontario.pdf 3 https://www.accenture.com/_acnmedia/PDF-112/Accenture-Accelerating-5G-in-Canada-PoV-2019.pdf#zoom=50 4 Ookla® Speedtest Intelligence® data for Q1 2021 https://www.speedtest.net/global-index/canada?fixed#market-analysis
