Report
Matthew Dolgin
EUR 100.00 For Business Accounts Only

Rogers Continues to Execute as It Wraps Up a Solid Year, but Key 2018 Metrics Will Be Tough to Beat

Narrow-moat Rogers put up another impressive quarter and concluded 2018 with wireless postpaid churn, average billings per user, and net additions looking especially strong. During 2018, revenue and adjusted EBITDA grew 5% and 9%, respectively, and the firm projected similar growth in 2019 (guidance of 3%-5% revenue growth and 7%-9% adjusted EBITDA growth). While a better margin profile will lead us to raise our CAD 60 fair value estimate by about CAD 2, we think Rogers will see headwinds in the...
Underlying
Rogers Communications Inc. Class B

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Matthew Dolgin

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