RCI.B, CA7751092007

Rogers Communications stock faces a target cut before results

Published on 10/01/2026 at 07:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rogers Communications stock was at EUR 27.28 at Lang & Schwarz on October 1, 2026 at 7:36 a.m. CEST. National Bank Financial now targets CAD 59.00 after CAD 62.00.

RCI.B, CA7751092007, Illustration mit AI erstellt.

Rogers Communications (ISIN CA7751092007) stock was at EUR 27.28 at Lang & Schwarz on October 1, 2026 at 7:36 a.m. CEST in pre-market trading. The latest analyst move points to a lower target, while the next quarterly checkpoint is already scheduled.

Analyst target moves lower

National Bank Financial lowered its Rogers target from CAD 62.00 to CAD 59.00 in a report dated September 30, 2026, according to MarketBeat. The same report cited a consensus Moderate Buy rating and an average target of CAD 58.77 from 11 analysts.

The target revision matters because Rogers was quoted at CAD 43.81 in the report, against a 52-week range of CAD 43.56 to CAD 56.27. The target change therefore leaves the analyst view above the cited market level, but the lower objective also reflects a more cautious near-term assessment.

Q2 delivered measurable growth

Rogers reported Q2 2026 total service revenue of CAD 5.1 billion, up 8 percent year over year, while adjusted EBITDA rose 3 percent to CAD 2.4 billion. Its quarterly free cash flow reached CAD 1.0 billion, up 6 percent year over year, according to the Yahoo Finance transcript of the July 22, 2026 earnings call.

Media revenue was CAD 1.2 billion, up 53 percent year over year, while the company reaffirmed 2026 capital expenditure guidance of CAD 2.5 billion to CAD 2.7 billion. The comparison shows the strategic value of the sports portfolio, but it also raises the importance of balance-sheet execution as Rogers completes its MLSE transaction.

Leverage remains the key risk

S&P Global Ratings affirmed Rogers at BBB- with a negative outlook on September 21, 2026 and expects year-end 2026 leverage of 4.6x. The agency said Rogers expects to acquire the remaining 25 percent of MLSE for CAD 4.35 billion and pursue minority monetization of its sports and media assets in 2027.

For investors, the next test is operational rather than purely narrative. Rogers plans to release Q3 2026 results before North American markets open on October 23, 2026, with management scheduled to hold its conference call at 8:00 a.m. ET, according to StockTitan.

Rogers stock awaits Q3 results

Rogers Communications stock was at EUR 27.28 at Lang & Schwarz on October 1, 2026 at 7:36 a.m. CEST in pre-market trading. The latest market snapshot showed a market capitalization of CAD 23.7 billion as of September 30, 2026, while the next results date is October 23, 2026.