Rogers Communications (TSX:RCI.B) is a Toronto-based communications and media company. The long-discussed deal between Rogers and Shaw finally closed in the first week of April. This wraps up a two-year process and bolsters Rogers’ position among the telecommunications heavyweights on the Canadian market. However, does it make Rogers a more attractive hold for the future?
Shares of this top telecom stock have climbed 6.5% month-over-month as of close on April 13. That pushed the stock into the black in the year-to-date period. However, its shares are down 12% year over year.
Investors can expect to see Rogers’ first quarter fiscal 2023 earnings before markets open on Wednesday, April 26. In the fourth quarter of fiscal 2022, the company delivered total revenue growth of 6% to $4.16 billion. Meanwhile, adjusted EBITDA increased 10% from Q4 2021 to $1.67 billion while adjusted net income or adjusted diluted earnings per share (EPS) were reported at $554 million or $1.09 per share – up from $486 million or $0.96 diluted EPS in the previous year.
For the full year, Rogers saw total revenue jump 5% to $15.3 billion. Moreover, adjusted EBITDA climbed 9% to $6.39 billion. Cash provided by operating activities increased 8% to $4.49 billion.
This top telecom stock currently possesses a price-to-earnings ratio of 19. That puts Rogers in attractive value territory compared to its industry peers. Meanwhile, Rogers offers a quarterly dividend of $0.50 per share. That represents a 3% yield.
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