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TORONTO, ONTARIO – Rogers Communications (TSX:RCIa) Inc. (NYSE:RCI), a leading Canadian telecom and media company, disclosed its year-end financial performance for the period ending December 31, 2024, today. The company, listed under the Cable & Other Pay Television Services [4841] industry, filed the report in compliance with the Securities Exchange Act of 1934.
The document, submitted to the U.S. Securities and Exchange Commission, was signed by Glenn Brandt, the Chief Financial Officer of Rogers Communications. The report details the company’s financial outcomes and operational developments over the past fiscal year.
While the specifics of the financial results were not disclosed in this announcement, the filing indicates that the company continues to fulfill its reporting obligations as a foreign private issuer in the United States. Rogers Communications has opted to file annual reports under Form 40-F, which is designated for Canadian issuers in compliance with U.S. securities laws. The company’s next earnings report is scheduled for April 23, 2025, with analysts maintaining a consensus BUY recommendation. For detailed analysis and more insights, investors can access the comprehensive Pro Research Report available on InvestingPro.
Rogers Communications, with its headquarters at 333 Bloor Street East in Toronto, operates within the telecommunications sector, providing a range of services including cable television, high-speed internet, and telephony services. The company has a history of growth and has undergone several transformations, including a name change from Rogers (NYSE:ROG) Cablesystems Inc. in 1986.
The company’s latest SEC filing is a routine disclosure that keeps investors informed about the company’s financial health and strategic direction. The report is based on a press release statement and contains management’s discussion and analysis for the fiscal year ended December 31, 2024.
Investors and stakeholders in the telecommunications industry will be looking to the full details of the report to gauge Rogers Communications’ market position and financial stability. The company currently offers an attractive dividend yield of 4.97% and appears undervalued according to InvestingPro’s Fair Value analysis. The company’s performance is of particular interest given the competitive nature of the telecom sector, which includes several key players both in Canada and internationally.
The 6-K form serves as a crucial source of information, providing transparency and allowing for a consistent flow of information between the company and its investors. As Rogers Communications continues to navigate the evolving landscape of the telecommunications industry, such filings are essential for maintaining investor confidence and market integrity.
In other recent news, Rogers Communications has updated its service revenue guidance for the fourth quarter of 2024. This update was filed with the U.S. Securities and Exchange Commission, although specific details of the revised guidance were not disclosed. Investors and analysts are expected to gain further insights during the upcoming quarterly results teleconference scheduled for January 30, 2025. Additionally, BofA Securities has downgraded Rogers Communications’ stock rating from Buy to Neutral. The downgrade was influenced by concerns over potential government policy changes on immigration and uncertainties surrounding the company’s investments in sports assets. BofA Securities also lowered its price target for Rogers to C$55 from C$65, citing reduced margin growth potential and competitive pressures. The new price target reflects a 10x forward free cash flow multiple, which is below the historical average. These developments highlight the challenges Rogers Communications faces in maintaining growth amid evolving market conditions.
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