Looks like I got a bit lucky with the timing of last week’s sale of Northlake’s remaining position in Rogers Communication (RCI). On Friday, it was reported that Telus and Bell Canada will be building a competitive HSPDA network that could undercut Rogers monopoly on high end customers and roaming. The stock got clipped on […]
It me a full month to complete the sale of Rogers Communications across all Northlake client accounts. Here is a link to my post following the initial sales. The post explains the rationale for exiting the position. Besides the research, clients should take away a couple of things form the sale of Rogers. First, when […]
I began to sell Northlake’s position in Rogers Communications last week ahead of its earnings report. I thought the report would be OK but given growing signs of slowing growth in wireless worldwide, I thought there might be some downside to RCI’s numbers. I also thought that it would take a really good report to […]
On Tuesday, Rogers Communications reported excellent 1Q08 results further allaying concerns that caused the shares to pullback from the low $50s before bottoming in the low $30s. Results at RCI’s wireless business segment were better than expected across the board, providing plenty of support for the recent rebound in the shares to the low $40s […]
I feel I have done a good job and a bad job with Northlake’s investment in Rogers Communications (RCI). On the one hand, I initially purchased RCI for clients in December 2006 around $29. With the stock at $39, up 34%, I should have no complaints. However, in early November the stock was in the […]
Before the open on Monday, Rogers Communications (RCI) announced 4Q07 subscriber growth below expectations, doubled its dividend, initiated its first ever share repurchase, and reported mixed 2008 guidance. In response, RCI shares fell 6.2%. I decided to hold off on writing up my thoughts until the smoke cleared and following a little defense by a […]
The spectrum auction and build out rules in Canada are more favorable than expected for new entrants. As a result, Rogers Communications are trading down by 10% today. I have already seen two downgrades of the shares. Even with more favorable provisions for new entrants into the Canadian wireless market, I suspect that any impact […]
Rogers Communications reported another excellent quarter with revenues, EBITDA, EPS, and free cash flow rising 13%, 26%, 61%, and 91%, respectively. These figures were at the high end of analyst estimates with the Cable and Media segments providing material upside to EBITDA. EBITDA and profit margins at wireless were a little lower than expected but […]
Rogers Communications (RCI) reported 2Q07 earnings on July 31st. The results were at the upper end of expectations and management raised the high end of the guidance range for many key metrics. Nevertheless, the shares traded off as much as 4% initially, cut the loss in half as the conference call was occurring, and closed […]
Barron’s Online gave Rogers Communications (RCI) a nice write-up yesterday, succinctly outlining the bull case. Barron’s noted the positive dynamics of the Canadian wireless market which has just 60% penetration and therefore promises several more years of well above average growth (unless Canadians end up being a lot less fond of mobile phones than the […]
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