Rogers Communicationsの空売り状況は、投資家がRogers Communicationsの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

Rogers Communications (NYSE:RCI) 株価情報, 空売り情報

Rogers Communications

Rogers Communications is the largest wireless service provider in Canada, with its more than 11 million subscribers equating to one third of the total Canadian market. Its wireless business accounted for more than half of total revenue and has increasingly been providing a bigger portion of total company sales over the last several years. Rogers' cable segment, which provides about 35% of total revenue after acquiring Shaw, 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.

Rogers Communications Inc

ROGERS COMMUN INC A by Rogers Communications, Inc.

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Shares of companies within the broader communication services sector are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

These past three months were not what U.S. <a href="https://www.benzinga.com/topic/mergers-and-acquisitions">dealmakers wanted or expected</a>.
As of April 3, transaction tracker Dealogic showed zero percent growth in U.S.-based M&amp;A volume compared to last year&#8217;s first quarter.
Elsewhere? Volume is spiking triple digits.
<ul>
<li>The Middle East and Africa combined are seeing 123% growth in M&amp;A.</li>
<li>Japan: 105%</li>
<li>Asia: 103%</li>
</ul>
Deal volume is also up in Canada, Europe and Australia. Only in Latin America is it in the red, with <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/03/44342234/deal-dispatch-trump-ma-boom-is-a-bust-purple-mattress-considers-sale-celtics-auction-heats-up">barely a peep</a> coming from the U.S.
For those keeping track of who correctly predicted this downtrend, don&#8217;t look to Bank of America. After Election Day, the firm&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">analysts boldly predicted</a> that the then-incoming Trump administration would remove Federal Trade Commission chair Lina Khan and, presto, the antitrust roadblocks for M&amp;A activity would be removed.
Those analysts were wrong. Just 10 days after Trump&#8217;s inauguration, the U.S. Department of Justice <a href="https://www.benzinga.com/news/legal/25/01/43353124/hewlett-packard-enterprise-shares-fall-as-us-department-of-justice-sues-to-block-juniper-acquisition">sued to block</a> Hewlett Packard Enterprise&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) $14 billion deal to acquire networking gear maker Juniper Networks. In March, Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) <a href="https://julian-34159.medium.com/m-a-malaise-whats-behind-the-2025-deal-slowdown-8471a15b914c">saw its stock price fall</a> after the FTC challenged a proposed acquisition by private equity firm GTCR LLC.
Those BofA analysts also forgot that the previous Trump administration was not particularly lenient regarding consolidation. AT&amp;T and Time Warner; Sinclair and Tribune Media; Broadcom and Qualcomm; DraftKings and FanDuel — <a href="https://www.benzinga.com/news/asset-sales/25/03/44202239/deal-dispatch-tiktok-walgreens-raizen">all blocked</a>.
On the shiny side, gold-related M&amp;A deals have increased, but transaction sizes are much smaller, Benzinga&#8217;s Stjepan Kalinic <a href="https://www.benzinga.com/news/legal/25/03/44490949/gold-ma-deals-are-accelerating-but-average-deals-are-smaller-research-shows">wrote this week</a>.
See Also: <a href="https://www.benzinga.com/government/regulations/25/04/44648681/powell-cites-tariff-driven-inflation-risks-shrugs-off-trumps-call-for-perfect-time-to-cut-rates">Trump Urges Immediate Rate Cuts, Powell Says It&#8217;s &#8216;Too Soon&#8217; As Tariffs Will Likely Drive Inflation</a>
<h2 class="wp-block-heading">New On The Block</h2>
<ul>
<li>I Squared Capital is considering selling its European trailer-leasing business, TIP Group, which could be valued at over €3 billion ($3.2 billion). The Miami-based firm is consulting advisers but has not yet launched a formal sale process, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-04-02/i-squared-said-to-weigh-3-billion-sale-of-trailer-leasing-firm?srnd=phx-deals&amp;sref=TBDibEcD">reports</a>. Based in Amsterdam, TIP Group may attract interest from infrastructure funds and industry peers. I Squared acquired the company in 2018 from HNA Group and has since expanded it through acquisitions, including Trailer Wizards in Canada and Eurotrail UK Ltd. The company was rebranded as TIP Group in 2022.</li>
</ul>
<ul>
<li>Bowmark Capital is working with Arma Partners on a potential sale of workforce management software firm Totalmobile, which could be valued at over £500 million ($649 million). A formal sale process may start later this year, according <a href="https://www.bloomberg.com/news/articles/2025-04-02/pe-firm-bowmark-said-to-weigh-500-million-sale-of-totalmobile?sref=TBDibEcD">to</a> Bloomberg. Totalmobile, which provides field service management software, could attract interest from private equity firms and industry players. Bowmark acquired the company in 2020, and deliberations on the sale are still in the early stages.</li>
</ul>
<h2 class="wp-block-heading">Updates From The Block</h2>
<ul>
<li>Final bids for Eni SpA&#8216;s 15% stake in Plenitude, a renewables company, are expected in the coming weeks. Apollo Global Management, Ares Management and Stonepeak are among the interested parties, according to Bloomberg—initial interest values Plenitude between €12 billion and €13 billion ($14 billion).</li>
</ul>
<ul>
<li>Ayrmid Ltd. <a href="https://www.benzinga.com/25/03/44564776?57575">offered to acquire</a> Bluebird Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) for an upfront cash payment of $4.50 per share. The company topped a $3.00 per share bid from private equity firms <a href="https://www.benzinga.com/25/02/43880289/bluebird-bio-to-be-acquired-by-carlyle-group-sk-capital-former-mirati-therapeutics-ceo-set-to-lead-post-deal">Carlyle and SK Capital Partners</a>.</li>
</ul>
<ul>
<li>Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44565671/rocket-acquires-mr-cooper-just-weeks-after-buying-redfin-brings-together-the-homeownership-experience-at-scale">announced it will acquire</a> Mr. Cooper Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) in an all-stock transaction for $9.4 billion in equity value. The move comes just after Rocket's $1.75 billion acquisition of <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44237879/rocket-redfin-deal-aims-to-create-end-to-end-real-estate-solution-where-does-that-leave-zillow">online real estate broker Redfin Corp. </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>).&nbsp;</li>
</ul>
<ul>
<li>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) <a href="https://www.benzinga.com/25/04/44643347/hershey-expands-snack-empire-with-acquisition-of-lesserevil-for-750m">agreed to acquire</a> snack brand LesserEvil. This move reflects the confectionery giant&#8217;s ongoing effort to expand from sweets such as Reese&#8217;s and Jolly Ranchers into the better-for-you snack sector. The acquisition is <a href="https://www.wsj.com/business/deals/hershey-nears-750-million-deal-for-lesserevil-popcorn-brand-4ca3d468?mod=lead_feature_below_a_pos1" target="_blank" rel="noreferrer noopener">reportedly</a> valued at around $750 million.</li>
</ul>
<ul>
<li>Rogers Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) said on Friday it agreed to receive a 7 billion Canadian dollar (~$5 billion) equity investment from funds managed by Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), supported by <a href="https://www.benzinga.com/news/asset-sales/25/04/44646240/rogers-scores-5-billion-blackstone-deal-to-cut-debt-unlock-wireless-infrastructure-value">several Canadian institutional investors</a>.</li>
</ul>
<ul>
<li>President Trump confirmed that the U.S. is <a href="https://in.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know" target="_blank" rel="noreferrer noopener">nearing a deal</a> to spare TikTok from a potential ban, with ongoing discussions involving multiple investors and a possible tariff agreement with China. During <a href="https://www.benzinga.com/25/04/44641024/trump-says-us-close-to-tiktok-deal-reiterates-his-offer-of-tariff-relief-to-secure-chinas-consent-the-tariffs-give-us-great-power-to-negotiate">remarks aboard</a> Air Force One, Trump didn&#8217;t specify whether the &#8220;very good group of people&#8221; interested in TikTok includes OnlyFans founder Tim Stokely. AppLovin and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44645102/applovin-wants-tiktok-but-can-it-beat-amazon-and-onlyfans-to-the-punch">also reportedly interested</a>.</li>
</ul>
<h2 class="wp-block-heading">Bankruptcy Block</h2>
<ul>
<li>Hooters, the restaurant chain known for its all-female waitstaff and neon orange branding, <a href="https://www.benzinga.com/personal-finance/25/04/44647084/hooters-files-for-bankruptcy-says-brand-isnt-going-anywhere">officially filed for bankruptcy protection</a>. The Chapter 11 filing allows the chain to continue normal operations during the proceeding. Hooters said that all of its 100 restaurants will be sold to two existing franchisees, which own and operate more than 30% of Hooters&#8217; locations in the U.S.</li>
</ul>
For the previous edition of <a href="https://www.benzinga.com/news/25/03/44546940/deal-dispatch-bezos-backed-crop-company-wilts-tech-startup-nabs-napster-for-207-million">Deal Dispatch, click here</a>.

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Deal Dispatch: US M&A Is Quiet, But Abroad? Volume Is Spiking

Rogers Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) said on Friday it has <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44643877/rogers-concludes-definitive-agreement-for-cdn-7-billion-equity-investment" rel="noreferrer noopener">entered into an agreement to receive a 7 billion</a> Canadian dollars (~$5 billion) equity investment from funds managed by Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), supported by several Canadian institutional investors.
The deal gives Blackstone a minority stake in a newly formed Rogers subsidiary tied to a portion of its wireless infrastructure.
Blackstone is&nbsp;backed by Canadian institutional investors, including CPP Investments, Caisse de dépôt et placement du Québec, PSP Investments, and British Columbia Investment Management Corporation.
Blackstone will hold a 49.9% equity&nbsp;interest in the new entity, while Rogers retains 50.1% and full operational control.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44645277/why-is-ev-maker-mullen-automotive-stock-skyrocketing-today" rel="noreferrer noopener">Why Is EV Maker Mullen Automotive Stock Surging Today?</a>
&#8220;This transaction will strengthen the company&#8217;s investment grade balance sheet by reducing our borrowings and unlocking the unrecognized value of critical assets,&#8221; said Rogers CEO Glenn Brandt.
&#8220;With this transaction, Rogers will have issued an aggregate $9 billion of equity-valued capital since year-end, which is expected to reduce leverage by almost 1 turn.&#8221;
The newly formed entity will hold a partial interest in Rogers&#8217; wireless backhaul transport infrastructure, with a structure allowing Rogers to buy back Blackstone&#8217;s stake between the eighth and twelfth years following the deal&#8217;s closure. Blackstone will maintain a 20% voting right in the subsidiary.
The investment is expected to yield annual distributions of up to C$400 million to Blackstone during the first five years. Rogers&#8217; average capital cost for the deal through the repurchase period is projected to be approximately 7% annually.
The investment will be recorded as equity in Rogers&#8217; financial statements and is likely to be classified similarly by major credit rating agencies, including Moody&#8217;s, S&amp;P Global Ratings, and DBRS Limited.
Rogers intends to use the transaction net proceeds to repay debt. The deal&#8217;s completion is targeted for the second quarter of 2025, pending regulatory approvals and closing conditions.
Price Action: RCI shares traded higher by 1.65% at $26.50 in premarket at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44643347/hershey-expands-snack-empire-with-acquisition-of-lesserevil-for-750m" target="_blank" rel="noreferrer noopener">Hershey Bites Into Better-For-You Snacking With LesserEvil Deal: Details</a></li>
</ul>
Photo via Shutterstock.

Equities

Asset Sales

Movers

General

Rogers Scores $5 Billion Blackstone Deal To Cut Debt, Unlock Wireless Infrastructure Value

"This transaction will strengthen the company's investment grade balance sheet by reducing our borrowings and unlocking the unrecognized value of critical assets," said Glenn Brandt, Chief Financial Officer. "With this transaction, Rogers will have issued an aggregate $9 billion of equity-valued capital since year-end, which is expected to reduce leverage by almost 1 turn."

Rogers to Use C$7B Investment From Blackstone-Led Group To Repay Debt And Boost Balance Sheet

Under the terms of the transaction, Blackstone will acquire a non-controlling interest in a new Canadian subsidiary of Rogers that will own a minor part of Rogers wireless network.&nbsp;Rogers will maintain full operational control of its network and will include the financial results of the subsidiary in its consolidated financial statements.
 &nbsp;

Rogers Communications Inks C$7B Deal With Blackstone, CPP And Others for 49.9% Stake In New Wireless Subsidiary

President Donald Trump's plan to <a href="https://www.benzinga.com/25/04/44616760/donald-trump-sets-reciprocal-tariffs-on-key-trade-partners-in-historic-policy-shock">impose reciprocal tariffs</a> on foreign imports sent markets lower on Thursday.
Canada was spared from additional tariffs during Wednesday's announcement, but has been a favorite Trump target. Canada's economy could be hurt by tariffs, which could be a problem for American sports leagues, specifically the National Hockey League.
What Happened: A Canadian NHL team has not won the <a href="https://www.benzinga.com/general/sports-betting/24/04/38356595/canadas-30-year-stanley-cup-drought-can-streak-end-in-2024-betting-odds-and-the-public-us-">Stanley Cup since 1993</a>. While that drought continues to be a key fact on the minds of the seven Canadian NHL teams, they may have bigger problems at hand.
NHL Commissioner Gary Bettman was <a href="https://globalnews.ca/video/11112948/nhl-has-concerns-over-trumps-tariffs-hopes-canada-us-tensions-just-a-moment-in-time/">asked </a>about Trump's latest tariffs and the potential impact on the NHL this week when highlighting a new Canadian media rights deal with Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>).
Bettman said he doesn't want to weigh in on politics and hopes that people use sports as an escape from negative headlines. Although, he acknowledged that the situation could still have meaningful implications.
"I hope what we're seeing is a moment in time and things can get back to a normal reality," Bettman said. "I have concerns from a business standpoint for the league that if the Canadian economy suffers by what's going on that will impact the way we do business."
Bettman&#8217;s latest comments follow a <a href="https://www.cnbc.com/2025/03/05/nhl-commissioner-gary-bettman-us-canada-tariffs.html" target="_blank" rel="noopener">CNBC </a>interview last week in which he said 25% of the NHL's league revenue comes from the seven Canadian teams. He also mentioned that the salaries are paid in US dollars.
"So if the impact of the tariffs is to see the Canadian dollar drop relative to the U.S. dollar, it will make it more difficult and more painful."
At the time, Bettman said Canadians and Americans were likely getting "caught in the middle" of a policy issue.
Read Also: <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted">Trump Unveils Massive Tariff Plan to Slash $1.2 Trillion Trade Deficit: &#8216;Access To The American Market Is A Privilege&#8217;</a>
Why It's Important: The NHL's seven Canadian teams are the Calgary Flames, Ottawa Senators, Montreal Canadiens, Toronto Maple Leafs, Edmonton Oilers and Winnipeg Jets.
The Maple Leafs are partially owned by two public telecommunications companies. Rogers owns 37.5% of the team, and Bell Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCE#NYSE">BCE</a>) also owns 37.5% of the team. The ownership comes via the Maple Leaf Sports &amp; Entertainment parent company. MLSE also owns the National Basketball Association team, the Toronto Raptors, and other sports assets. Rogers owns the Major League Baseball team, the Toronto Blue Jays.
Hockey equipment and jerseys are also made in Canada and could be subject to tariffs, increasing costs for the league as it nears the end of its regular season.
In other American sports leagues, Canada is less involved. In the NBA it's one Canadian team (Raptors) and the same for MLB (Blue Jays). The NHL will be much more impacted by tariffs on Canada and the country's economy going forward.
As a trade war potentially escalates, fans can also get more partial against certain teams, as was evidenced with booing of national anthems when Canada and the United States played each other in the Four Nations Tournament earlier this year.
Price Action: Rogers Communications stock hit a new 52-week low of $24.76 earlier this week. The stock has traded between $24.76 and $41.84 over the last year, with shares down 15.2% year-to-date in 2025 and down 34.9% over the last year.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/25/04/44619828/gop-senators-call-trumps-25-canada-tariff-a-huge-mistake-as-republican-opposition-grows-markets-fear">GOP Senators Call Trump&#8217;s 25% Canada Tariff A &#8216;Huge Mistake&#8217; As Republican Opposition Grows, Markets Fear Economic Disruption</a></li>
</ul>
Photo: Debby Wong/Shutterstock

Sports

Global

Trump's Tariff Push Raises NHL Concerns: League Hopes For Return To 'Normal Reality'

Renews highly coveted and valuable hockey rights long term Will deliver more national games and fewer blackouts to hockey fans Rogers is proud to remain the home of NHL&nbsp;hockey

NHL And Rogers Extend National Media Rights Partnership With 12-Year, $11B Agreement

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Viking Global Investors' Latest 13F Filing Reveals Dissolved Stakes In Apple By 4.86M Shares, Workday By 3.27M Shares, Las Vegas Sands By 8.67M Shares, McDonald's By 1.12M Shares, Vertiv Holdings By 2.81M Shares, Acadia Healthcare By 3.70M Shares, CBRE Group By 1.57M Shares, Carnival By 9.56M Shares, Freeport-McMoRan By 3.14M Shares, Eli Lilly By 152K Shares, 3M By 840.75K Shares, Ameriprise Financial By 243.06K Shares, Tesla By 436.27K Shares, Rogers Communications By 2.70M Shares

<ul>
<li>a U.S. public offering of two series of US dollar denominated fixed-to-fixed rate subordinated notes with an aggregate principal amount of US$2.1 billion, consisting of US$1.1 billion of 7.0% fixed-to-fixed rate subordinated notes due 2055 and US$1.0 billion of 7.125% fixed-to-fixed rate subordinated notes due 2055 (collectively the "US Notes"), and</li>
<li>a Canadian private placement of $1.0 billion of 5.625% fixed-to-fixed rate subordinated notes due 2055 (the "Cdn Notes" and, together with the US Notes, the "Notes").</li>
</ul>

Reported Earlier, Rogers Communications Prices US$2.1B Public Offering And C$1B Private Placement Of Fixed-To-Fixed Rate Subordinated Notes

Rogers Communication shares are trading lower. The company reported Q4 financial results yesterday.

Editor&#8217;s Note: The story has been updated to correct the original revenue and eps numbers reported in USD and erroneously compared with CAD consensus estimate.
Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are <a href="https://www.benzinga.com/pressreleases/25/01/g43331914/rogers-communications-reports-fourth-quarter-2024-results-announces-2025-financial-guidance">trading relatively flat on Thursday.</a>
In U.S. dollars, the company reported fourth quarter adjusted earnings per share of $1.04, beating the street view of $0.97. Quarterly sales of $3.92 billion beat the analyst consensus estimate of $3.84 billion.
In Canadian dollars, the company reported fourth quarter adjusted earnings per share of C$1.46, beating the street view of C$1.36. Quarterly sales of C$5.48 billion beat the analyst consensus estimate of C$5.39 billion. GAAP earnings per share were C$1.02, up 65% year over year.
Wireless service revenue increased by 2% this quarter, primarily as a result of the cumulative impact of growth in mobile phone subscriber base over the past year.
Wireless equipment revenue increased by 9%, primarily as a result of an increase in subscribers purchasing higher-value devices. Cable service revenue was stable this quarter, improving sequentially from the third quarter and from the prior year.
The company declared a <a href="https://www.benzinga.com/pressreleases/25/01/g43331916/rogers-communications-declares-50-cents-per-share-quarterly-dividend">quarterly dividend </a>totaling 50 cents per share on each of its outstanding Class B Non-Voting shares and Class A Voting shares.&nbsp;The declared quarterly dividend will be paid on April 2.
Also Read: <a href="https://www.benzinga.com/general/gaming/25/01/43342224/ryan-cohen-moves-gamestop-shares-to-personal-name-sparking-speculation-on-next-steps">Ryan Cohen Moves 36.8 Million GameStop Shares To Personal Name, Sparking Speculation On Next Steps</a>
Media revenue increased by 10% this quarter, primarily as a result of higher sports- and&nbsp;entertainment-related revenue, but lower than expectations as previously announced.
Consolidated adjusted EBITDA increased 9% and adjusted EBITDA margin increased by 250 basis points, primarily as a result of ongoing productivity and cost efficiencies.
As at December&nbsp;31, the company had C$4.8 billion of available liquidity&nbsp;(December&nbsp;31, 2023 &#8211; C$5.9 billion), including C$0.9 billion in cash and equivalents.
&#8220;The fourth quarter caps three straight years of industry-leading results,&#8221; said Tony Staffieri, President and CEO. &#8220;As I look to the year ahead, our 2025 outlook reflects continued growth, strong free cash flow, and investment in our core businesses.&#8221;
Outlook: For FY25, the company sees total service revenue to increase 0% to 3%, adjusted EBITDA growth of 0% to 3%, and capital expenditures of $3.8 billion to $4.0 billion.
"In 2025, we expect to have the financial flexibility to maintain our network advantages and to continue to return cash to shareholders," the company said.
Price Action: RCI shares are trading higher by 0.54% to $28.91 at the last check on Thursday. (updated)
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/25/01/42802731/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-2024-where-do-tesla-nvidia-gamestop-trump-media-stocks-rank" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In 2024 — Where Do Tesla, Nvidia, GameStop, Trump Media Stocks Rank?</a></li>
</ul>

Earnings

Guidance

Markets

Rogers Communications Q4 Earnings Beat Expectations, Expects Upto 3% EBITDA Growth In 2025 (CORRECTED)

Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) reported quarterly earnings of C$1.46 per share which beat the analyst consensus estimate of C$1.36 by 7.35 percent. This is a 22.69 percent increase over earnings of C$1.19 per share from the same period last year. The company reported quarterly sales of C$5.480 billion which beat the analyst consensus estimate of C$5.392 billion by 1.63 percent. This is a 2.72 percent increase over sales of C$5.335 billion the same period last year.

Earnings Beats

CORRECTION: Rogers Communications Q4 2024 Adj. EPS C$1.46 Beats C$1.36 Estimate, Sales C$5.480B Beat C$5.392B Estimate

Rogers Communications Sees FY25 Service Revenue Growth Of 0% - 3%

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Earnings Scheduled For January 30, 2025

Barclays analyst Kannan Venkateshwar downgrades Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) from Overweight to Equal-Weight.

Downgrades

Analyst Ratings

Barclays Downgrades Rogers Communications to Equal-Weight

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">relatively flat on Friday.</a>
The company is set to release these details on Thursday, January 30, 2025, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42782795/rogers-communications-notice-for-4q24-results-teleconference-january-30-2025-at-8-00-a-m-et" rel="noreferrer noopener">before the markets open.</a>
For the full year 2024, Rogers now expects annual consolidated service revenue growth just over 7%, compared to its guidance range of 8% &#8211; 10% issued in February of 2024, driven by weakness in media revenue during the fourth quarter. All other guidance items remain unchanged.
Tony Staffieri, President and CEO of Rogers, acknowledged the softness in media revenue for the fourth quarter but emphasized the company&#8217;s strong performance throughout the year.
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&#8220;Media revenue in the fourth quarter was softer than expected affecting our revenue target for the year,&#8221; said Tony Staffieri, President and Chief Executive Officer,&nbsp;Rogers.
In the third quarter, Rogers reported adjusted earnings per share of $1.04, beating analyst estimates of $0.98. Quarterly sales amounted to C$5.129 billion,<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41525025/rogers-communications-q3-earnings-beat-expectations-amid-ongoing-network-investment-plans" rel="noreferrer noopener"> up 1% from the previous year.</a>
Media revenue rose by 11% this quarter, driven mainly by higher sports-related revenue.
Additionally, after the quarter, Rogers entered into a non-binding agreement with a global financial investor for a C$7 billion equity investment to fund network expansion. The deal is expected to close in the fourth quarter, pending the finalization of contracts.
Price Action: RCI shares are trading higher by 0.16% to $30.43 premarket at last check Friday.
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Rogers Communications Revises 2024 Revenue Outlook: Media Weakness Takes A Toll

For the full year 2024, Rogers expects annual consolidated service revenue growth just over 7%, compared to its guidance range of 8%-10% issued in February of 2024, driven by weakness in media revenue during the fourth quarter. All other guidance items remain unchanged.&nbsp;
"Media revenue in the fourth quarter was softer than expected affecting our revenue target for the year," said Tony Staffieri, President and Chief Executive Officer,&nbsp;Rogers. "Overall, we continued with industry-leading execution throughout the year&nbsp;and look forward to sharing the details during our fourth quarter call."

Rogers Communication Says It Expects FY24 Service Revenue Growth Just Over 7%, Compared To Its Guidance Range Of 8%-10% Issued In February, Driven By Weakness In Media Revenue In Q4

Rogers Communications&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>)&nbsp;today announced it has received clearance from the Competition Bureau to proceed with the acquisition of Bell's 37.5% stake in Maple Leaf Sports &amp; Entertainment.
Rogers and Bell received a&nbsp;"no-action letter"&nbsp;on December 12, 2024, from the Bureau, indicating that the Commissioner of Competition does not intend to challenge Rogers acquisition of Bell's interest in MLSE.
The deal is subject to league approvals and approval from the CRTC.

TSX:RCI

Rogers Provides Update On Its Acquisition Of Bell's 37.5% Stake In Maple Leaf Sports & Entertainment; Rogers And Bell Received A "No-Action Letter" On December 12, 2024, From The Bureau, Indicating That The Commissioner Of Competition Does Not Intend To Challenge Rogers Acquisition Of Bell's Interest In MLSE

National Football League fans, specifically those of the Miami Dolphins, will likely be happy to learn that they can now invest in the team thanks to a rule allowing <a href="https://www.benzinga.com/general/sports/24/08/40607642/jeff-bezos-could-have-competition-if-he-wants-the-nfls-seattle-seahawks-private-equity-investments">private equity investment.</a>
What Happened: The Dolphins are among the first NFL teams to leverage the new minority investment rule, announcing several recent investments. This follows reports that Citadel LLC CEO Ken Griffin was <a href="https://www.benzinga.com/news/23/11/35908281/ken-griffin-bet-against-gamestop-bought-a-us-constitution-are-the-miami-dolphins-next">once interested in buying the team.</a>
The Dolphins <a href="https://www.miamidolphins.com/news/miami-dolphins-announce-sale-of-limited-interest-to-ares-management">announced </a>Ares Management Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) is acquiring a 10% stake in the Miami Dolphins and several other assets. NBA team owners Joe Tsai and Oliver Weisberg, who own the Brooklyn Nets, will own 3% of the team going forward.
The minority investments were approved by the league on Wednesday.
The investment stake includes the Dolphins, Hard Rock Stadium, and the Formula 1 Crypto.com Miami Grand Prix, one of the annual American races of the Formula 1 motorsport league, owned by Liberty Media Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>).
"As we continue our relentless pursuit of building a best-in-class organization, we were fortunate to attract significant interest from multiple investors, which gave us the opportunity to be highly selective in choosing partners who align with our core values and long-term vision," Dolphins team owner Stephen Ross said.
Ross said the investments will help with future growth.
"We will prioritize continued investment into the Dolphins, additional sports assets and South Florida real estate to fuel dynamic growth and innovation in the region for years to come."
Ares Management, which is a leading global alternative investment manager covering credit, real estate, private equity and infrastructure investments has $464 billion in assets under management.
The company is an investor in several professional sports teams already, including McLaren Racing, Atlético de Madrid and Inter Miami CF, <a href="https://www.benzinga.com/news/23/08/33602864/want-to-invest-in-lionel-messis-mls-success-theres-a-new-way-to-get-a-stake-in-inter-miami">the MLS team </a>that Lionel Messi plays for.
"We look forward to working with Steve to continue unlocking new and exciting opportunities ahead," Ares co-head Sports, Media &amp; Entertainment Mark Affolter and Jim Miller said.
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Why It's Important: Prior to this week's announcement, there have not been many ways to invest in NFL teams. The league's Green Bay Packers are the <a href="https://www.benzinga.com/news/21/11/24105229/want-to-own-a-share-of-the-green-bay-packers-buy-a-piece-of-the-team-for-300-but-dont-expect-dividen">only publicly owned team</a>, but it comes with many differences from a typical public franchise. Owners of the Packers do not collect dividends and can't sell their stake.
Along with the Dolphins news, the NFL <a href="https://www.cnbc.com/2024/12/11/nfl-philadelphia-eagles-minority-stake-sale.html?taid=6759b9820e8d6f0001ba088d&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain">approved </a>minority sales of the Buffalo Bills, Las Vegas Raiders and Philadelphia Eagles. None of those sales included ways for the typical investor to own a stake in the teams.
The other North American professional sports leagues <a href="https://www.benzinga.com/topic/public-sports-teams">offer ways for investors </a>to invest in teams with the likes of Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>), Blue Owl Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OWL#NYSE">OWL</a>), Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) and Atlanta Braves Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>) owning stakes in teams.
The Dolphins were founded in 1966 and became a member of the NFL in 1970 when the AFL and NFL merged. The team was valued at $6.76 billion in the most recent <a href="https://www.sportico.com/feature/nfl-team-values-ranking-list-1234684165/">Sportico </a>valuations list, ranking seventh among NFL teams. The Dallas Cowboys ranked first at $10.32 billion.
In the 2024 season, the Dolphins hold a 6-7 record and now have a distant chance of making the NFL Playoffs with current odds of +400 from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>). The team has odds of +25,000 to win Super Bowl LIX.
In its NFL history, the Dolphins have had two Super Bowl wins and five appearances in the championship game. While the team made back-to-back appearances in the NFL Playoffs for the 2022 and 2023 seasons, the team's last playoff win came in the 2000 season.
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Photo: April Visuals/Shutterstock.com

Trading Ideas

ARES

BATRA

DKNG

MSGS

Miami Dolphins, NFL Fans Can Own Part Of Team Thanks To This Public Company

Rogers Communication, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>) shares are trading lower after the company<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> reported third-quarter results.</a>
In U.S. dollars, adjusted earnings per share of $1.04 beat the analyst consensus estimate of 98 cents.
In Canadian dollars, the earnings per share were C$1.42, up 12% year over year. Quarterly sales totaled C$5.129 billion, up 1% year over year.
Wireless service revenue grew by 2% this quarter, mainly due to an increase in mobile phone subscribers over the past year.
Cable revenue fell by 1% this quarter but showed improvement from previous quarters, impacted by competitive promotions and a drop in Home Phone and Satellite subscribers.
Media revenue rose by 11% this quarter, driven mainly by higher sports-related revenue.
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Consolidated adjusted EBITDA increased 6% this quarter, and the adjusted EBITDA margin increased by 230 basis points due to the full realization of the synergy program associated with the Shaw Transaction and ongoing cost efficiencies.
As of September&nbsp;30, the firm had C$4.8 billion of available liquidity, consisting of C$0.8 billion in cash and equivalents and C$4 billion available under bank and other credit facilities.
The company declared a C$0.50 per share dividend on October 23.
Outlook Reiterated: Total service revenue is expected to grow by 8% to 10%, while adjusted EBITDA is projected to increase by 12% to 15%.
After the quarter ended, Rogers signed a non-binding term sheet with a prominent global financial investor for a structured equity investment of C$7 billion to finance part of its network. The completion of this agreement depends on finalizing definitive contracts and is anticipated to close in the fourth quarter.
Price Action: RCI shares are trading lower by 3.59% to $37.82 at last check Thursday.
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Media

Rogers Communications Q3 Earnings Beat Expectations Amid Ongoing Network Investment Plans

Press Releases

Rogers, NHL and NHLPA Team Up to Support Sun Youth in Montreal During 4 Nations Face-Off

Rogers Recognized as Canada's Most Reliable Wireless Network by Opensignal

4 Nations Face-Off: Canadian Pride Would Surge if Canada Beat the U.S. in Hockey Showdown

Rogers Communications Inc. Files Annual Report to Shareholders

Rogers Recognized as Canada's Most Reliable Internet by Opensignal

Rogers Communications 1Q25 Investment Community Teleconference April 23, 2025 at 8:00 a.m. ET

Contracts

The NHL and Rogers Announce Monumental 12-Year National Media Rights Deal

Rogers concludes definitive agreement for CDN$7 billion equity investment

Rogers Communications Inc. Announces Consent Solicitations for Senior Notes to Facilitate Subsidiary Equity Investment

Rogers Communications Inc. Announces Successful Completion of Consent Solicitations for Senior Notes to Facilitate Subsidiary Equity Investment

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