Latest news with #RogersCommunications
Yahoo
5 days ago
- Business
- Yahoo
Hurricane season is heating up and these Canadian oil stocks are poised to benefit
It was a busy week as major members of corporate Canada released earnings that left analysts rethinking their price targets. Meanwhile, meme stocks burst back onto the scene, but what's driving the phenomenon is different this time around. Stock of the week: Tesla Inc. Shares of Tesla Inc. (TSLA) hit the skids this week when the electric vehicle maker reported sales that fell the most in a decade. But after dropping eight per cent following the release of earnings on Wednesday, the stock recouped some of those losses to close Friday at US$316.06. Elon Musk and his company have been on a roller-coaster in recent months, with his support for Donald Trump turning off customers and a public falling out with the president then rattling shareholders. Reflecting some of the chaos, price targets are all over the map for Tesla, ranging from a high of US$500 at Wedbush Securities to a low of US$120 at JPMorgan Chase and Co., according to Bloomberg data. The average target is US$302.04. Tesla shares are down 22 per cent year to date but up 42 per cent their March lows. Keeping score Is the bad news priced in for Rogers? There's 'too much bad news being priced into' shares of Rogers Communications Inc. (RCI/B), said analysts at TD Cowen, after the telco giants reported earnings this week. Analysts Vince Valentini, Natale Puccia and Carter Sullivan cited uncertainty around Rogers' debt outlook but the trio think 'management will be able to deliver on their strategy to improve leverage' this year. TD Cowen has a buy rating on Rogers and a price target of $57. Shares are currently trading at $46.57 and are up 41 per cent from when markets tanked in April after Donald Trump's reciprocal tariffs announcement. In other earnings related news, BMO Capital Markets analyst Tamy Chen hiked her price target for Loblaw Co. Ltd. (L) to $230 from $220 after the grocery giant reported quarterly results that beat estimates. The stock is currently trading at the $222 level. 'More Canadians are shopping in our stores. Actually, traffic is up, unit sales are up and basket growth was positive in the quarter,' Per Bank, chief executive of Loblaw said on an earnings call. TD Cowen also hiked its price target to $250 from $245. 'Assuming no major economic fallout from trade negotiations, we expect guidance to be raised after Q3,' TD analyst Michael van Aelst said. Meme mania returns Meme stocks kicked up some dust this week with shares of companies including Kohl's Corp. (KSS), Krispy Kreme Donuts Inc. (DNUT) and GoPro Inc. (GPRO) soaring as retail investors jumped back on the bandgwagon, spurred on by Redditt's WallStreetBets forum. Meme stocks often have high levels of short interest and low valuations, but its the online boosters who have drawn the most attention. The week's activity harkens back to the days of mega-meme stock GameStop Corp., whose shares rose 788 per cent in one day early in 2021 before pulling back over following few months. But, Max Gorkham, deputy chief investment officer of Franklin Templeton investment Solutions, says the meme stock run of yesterday differs from that of today. 'There was this perception of 'we're going to save this company from the evil Wall Street investors (shorting GameStop).' But I think that's part of this belief in retail traders that actually they could have an impact, even if a small one,' Gorkham said. However, he thinks this week's activity is being driven by retail traders who have made gains in crypto — bitcoin is up 20 per cent-plus this year — looking to invest elsewhere. 'We've generally seen episodes like this before, where after a strong run up in digital assets, we then see a pickup in meme names,' Gorkham said. Canfor puts down more roots Lumber company Canfor Corp.'s (CFP) purchase of three sawmills in Sweden may get some investors' attention. Canfor's footprint in Canada has been shrinking. A decade ago, 69 per cent its lumber capacity was in British Columbia compared with just 14 per cent today, while it now also has operations in Alberta, Sweden and the U.S. South. Analysts at TD Cowen like the deal given that European lumber margins are higher and less volatile in Europe than North America and has a price target of $18 on the stock. It's currently trading at around $14. Hurricanes and why investors should care Hurricane season is almost here. Analysts at Scotiabank Capital Markets identified some potential Toronto-listed winners and losers based on predictions from the U.S. National Oceanic and Atmospheric Administration that chances are high of a major increase in storm activity in the Gulf of Mexico region where plenty of oil infrastructure resides. Among the S&P/TSX composite index-listed winners could be Cenovus Energy Inc. (CVE), Imperial Oil Ltd. (IMO), and Suncor Energy Inc. (SU) as their 'downstream businesses could benefit from higher Canadian and mid-continent refined product prices. However, modestly wider WCS (Western Canada Select) differentials could partially offset the downstream tailwinds for CVE and IMO and would have the most negative impact on (Athabasca Oil Corp.) ATH and IPCO (International Petroleum Corp.). Scotiabank also warned that Gibson Energy Inc. (GBI) is exposed via its South Texas Terminal and so is Enbrige Inc. as the operator of offshore oil and gas pipelines — 'though this business is small in the context of the whole organization.' One drone stock is up almost 100%. Here's why the sky might be the limit Here's how much higher analysts think Nvidia shares can go after record run to US$4-trillion • Email: gmvsuhanic@ Every week, the Financial Post breaks down the most interesting developments in the week's world of investing, from top performers to surprising analyst calls and stocks to have on your radar. The column will take a break next week, but look for it again on Aug. 8. Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary straight to your inbox.
CTV News
5 days ago
- Business
- CTV News
Rogers asks employees to work in the office full-time
Rogers is requiring its corporate employees to be in the office four days a week starting in October. Rogers Communications signage is pictured in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick TORONTO — Rogers Communications Inc. is joining a growing list of companies asking its employees to return to the office. The telecom company says it will require its corporate employees to be in the office four days a week starting in October. It says in-office days will increase to five days a week in February. There will be no changes for front-line or production teams. Rogers spokesperson Zac Carreiro says the phased approach will give workers and their families time to adjust to the changes. The telecom company isn't alone in reining in hybrid work policies. TD Bank asked its employees earlier this week to be in the office four days a week starting in the fall. Other big banks, including RBC, Scotiabank and BMO have also mandated at least four days in office starting in September, while Canaccord Genuity is reportedly moving to five. The Canadian Press
Yahoo
7 days ago
- Business
- Yahoo
Rogers looks for cost savings in sports portfolio after becoming MLSE majority owner
TORONTO — Rogers Communications Inc. hopes to find "revenue and cost synergies" in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is "pursuing all options ... to monetize and surface the very substantial unrecognized market value" of those assets. Earlier this month, Rogers completed its $4.7-billion deal with rival BCE Inc. to buy its 37.5 per cent stake in MLSE. The acquisition, which closed July 1 after receiving the necessary regulatory and league approvals, made Rogers the majority owner of the sports conglomerate that owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, MLS' Toronto FC and AHL's Marlies. Rogers also owns MLB's Toronto Blue Jays. "On sports and media, it's clear that there is significant underlying value and we are squarely focused as we put the assets together ... to continue to strengthen our balance sheet," said Rogers president and CEO Tony Staffieri on a conference call Wednesday, as the company reported its latest earnings. "The second part of our task is to surface the value for shareholders. We continue to work through the various options and the good news is we have very good options in front of us." Staffieri said it was premature to provide further insight about possible "synergies" within MLSE, but that Rogers would likely share details of its plans before the end of 2026. He said Rogers has "a very good track record" in finding ways to operate more efficiently, pointing to its 2023 merger with Shaw Communications Inc. "We went into this transaction with a view that we could execute on very strong synergies across our sports and media properties and certain things that need to happen before we can execute on those," he said. "But the thinking, the planning is underway and at the right time ... we can be more specific." Some industry watchers have speculated about the potential for Rogers to eventually fold the Blue Jays and related stadium assets into MLSE — an option floated by one analyst on the conference call who questioned if that's where Rogers might stand to eliminate "redundant costs" within its sports portfolio. "I expect that as we roll in the Toronto Blue Jays' Rogers Centre with Scotiabank Arena and the other venues within MLSE and the sports teams within MLSE, we will find revenue and cost synergies," chief financial officer Glenn Brandt replied. Meanwhile, the company updated its financial guidance on Wednesday to reflect the MLSE deal. Rogers now expects service revenue to increase three to five per cent year-over-year in 2025, up from its previous forecast of zero to three per cent growth, as a result of the anticipated contribution from MLSE. Rogers reported its second-quarter profit declined compared with a year ago as a result of higher restructuring, acquisition and other costs. The company said it earned $148 million or 29 cents per diluted share attributable to shareholders for the quarter ended June 30. The result was down from a profit of $394 million or 73 cents per share in the same quarter last year. Restructuring, acquisition and other costs totalled $238 million in the quarter, up from $90 million a year ago. Revenue for the three-month period totalled $5.22 billion, up from $5.09 billion a year earlier. Wireless service revenue was up one per cent from a year ago as its subscriber base grew, while wireless equipment revenue increased 13 per cent, primarily as a result of higher device sales to existing customers. Media revenue rose 10 per cent, boosted by strong NHL playoff audiences on Sportsnet and the launch of the Warner Bros. Discovery suite of television channels. Cable revenue was up one per cent. On an adjusted basis, Rogers earned $1.14 per diluted share, down from $1.16 per diluted share in the second quarter of 2024. The results came as the company reported 61,000 total mobile phone net subscriber additions, including 35,000 postpaid — down from 112,000 postpaid additions in the same quarter last year. Rogers' monthly churn for net postpaid mobile subscribers — a measure of those who cancelled their service — was 1.00 per cent, down from 1.07 per cent during its previous second quarter. Scotiabank analyst Maher Yaghi said the results were "broadly in line with expectations." "Wireless subscriber loading was relatively healthy given continued Canadian market normalization as a result of lower population growth," he said in a note. "While financial results do clearly show the impact from significant pricing pressures, we believe recent price ups which we saw since early June provide a more positive backdrop for the industry." The company recorded 26,000 prepaid net additions in the quarter, compared with 50,000 prepaid subscriber additions in the second quarter of 2024. Meanwhile, Rogers' mobile phone average monthly revenue per user was $55.45, down from $57.24 in the second quarter of the prior year. Retail internet net additions totalled 26,000. This report by The Canadian Press was first published July 23, 2025. Companies in this story: (TSX: RCI. B) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
23-07-2025
- Business
- Bloomberg
Rogers Raises Revenue Outlook After Buying Toronto Sports Teams
Rogers Communications Inc. beat analysts' estimates in the second quarter, posting higher sales in its wireless and media divisions, and raised its 2025 revenue outlook after buying control of Toronto's basketball and hockey teams. Canada's largest mobile phone company earned C$1.14 per share on an adjusted basis in the second quarter, more than the C$1.10 expected by analysts in a Bloomberg survey.
Yahoo
23-07-2025
- Business
- Yahoo
Rogers Communications reports Q2 profit down amid acquisition and restructuring costs
TORONTO — Rogers Communications Inc. reported its second-quarter profit declined compared with a year ago as a result of higher restructuring, acquisition and other costs. The company says it earned $148 million or 29 cents per diluted share attributable to shareholders for the quarter ended June 30. The result was down from a profit of $394 million or 73 cents per share in the same quarter last year. Revenue for the three-month period totalled $5.22 billion, up from $5.09 billion a year earlier. On an adjusted basis, Rogers says it earned $1.14 per diluted share, down from $1.16 per diluted share in the second quarter of 2024. The results came as the company reported 61,000 total mobile phone net subscriber additions, including 35,000 postpaid and 26,000 prepaid. Retail internet net additions totalled 26,000. This report by The Canadian Press was first published July 23, 2025. Companies in this story: (TSX:RCI.B) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
