Rogers (TSX:RCI.B) Posts 3% Profit For Q1 FY21, Stock Up 3%

2 min read | April 21, 2021 12:38 PM EDT | By Team Kalkine Media

Rogers (TSX:RCI.B) Posts 3% Profit For Q1 FY21, Stock Up 3% — Image source: metamorworks,Shutterstock

Rogers Communications Inc. (TSX:RCI.B)

The wireless stock soared over 3 per cent to C$ 63.49 per common share, guided by higher reported EPS for the previous quarter. The stock has returned almost 9 per cent month-to-date (MTD).

The large cap 5G stock has yielded 6.37 per cent this year, beating the S&P/TSX Wireless Telecommunication Services (Industry) Index, which has traded flat relatively.

It holds a market cap of C$ 31.35 billion and offers a return on equity of 16.77 per cent. Its current price-to-book ratio is 3.316.

Image Source: ©Kalkine Group 2021

Rogers’ Outlook For 2021

Rogers Communications’ quarterly earnings outperformed the bay street analysts’ estimates, and it comes just after its bid for Shaw Communications Inc. It could have a positive impact on the telecom regulators and competition commission while scrutinizing the proposed transaction.

If the company manages to purchase Shaw without further revision 2021, the joint entity could deliver impressive returns to shareholders.

Tags: Rogers, Shaw Communications, TSX:RCI.B, TSX:SJR.B, Telecom Industry, Earnings

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