Disappointing First-Quarter for Rogers Still Has a Few Bright Spots; Maintaining CAD 62 FVE
Narrow-moat Rogers reported a disappointing first quarter across most metrics, with the firm adding its fewest number of postpaid wireless subscribers in three years and revenue falling below our projections in each of its three segments. Adjusting for an accounting change, the EBITDA margin was flat, despite tepid customer growth. While those results were clearly negative, record-low wireless churn, better pricing, and the firm's recent spectrum win bode well for Rogers' long-term prospects. Wi...Rogers Communications is a holding company operating as a communications and media company. Co. has four segments: Wireless, which provides wireless telecommunications operations; Cable, which provides cable telecommunications, including internet, television, and telephony services; Business Solutions, which provides network connectivity through its fibre network and data centre assets to support voice, data, networking, hosting, and cloud-based services for businesses, governments, and other telecommunications providers; and Media, which consist of media properties, including television and radio broadcasting, shopping, publishing, sports media and entertainment, and digital media.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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