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Right here’s Why I’m Shopping for Rogers Inventory Proper Now

The S&P/TSX Capped Communication Companies Index rose 1.3% on Tuesday, January 24. Canadian telecommunications shares have had a powerful begin to the yr, which displays a constructive efficiency for the broader market. At the moment, I need to zero-in on one of many high telecoms on the TSX.

Rogers Communications (TSX:RCI.B)(NYSE:RCI) is a Toronto-based communications and media firm. Its shares have climbed 8.1% year-over-year as of shut on January 24. The inventory has jumped 3.8% to kick off the New 12 months.

This firm just lately introduced that it will host its fourth quarter and full-year fiscal 2022 teleconference earlier than markets open on Thursday, February 2, 2023. Rogers launched its third quarter fiscal 2022 earnings on November 9. In that quarter, Rogers delivered income development of two% to $3.74 billion in Q3 2022. In the meantime, income elevated 5% to $11.2 billion within the first three quarters of the fiscal yr.

Within the year-to-date interval, Rogers reported adjusted web earnings of $1.36 billion and adjusted diluted earnings per share of $2.66 within the first 9 months of fiscal 2022 – up 3% in comparison with the year-to-date interval in FY2021. Furthermore, money supplied by working actions climbed 11% to $3.34 billion. Rogers has bounced again properly because the COVID-19 pandemic, notably its Media phase that depends on patron revenues at its large-scale sporting occasions.

Shares of Rogers at the moment possess a stable price-to-earnings ratio of 21. In the meantime, it provides a quarterly dividend of $0.50 per share. That represents a 3% yield.

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