Operationally, the company’s revenue grew by 4% to $5.35 billion, and its adjusted earnings per share actually declined by 5%, to $726 million. The company's media division provided a significant boost, offsetting a slight decline in its core wireless service revenue.
Overall, it was a steady quarter for the company but nothing that was terribly exciting to move the stock, which is par for the course for the business. Rogers’ stock has enjoyed strong gains of around 27% thus far this year but historically, it hasn’t been much of a growth investment to own; in five years, it has declined by 12% in value.
But it does offer a fairly high-yielding dividend of 3.7%, which can make it a compelling option for income investors.
With stable results over the years and it being a leading telecom and media company in Canada, Rogers is among the safer stocks to rely on for recurring income. And with the stock trading at just 10 times its expected future earnings (based on analyst projections), it’s a reasonably priced investment.
For long-term investors, Rogers remains a good stock to buy and hold.
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