Rogers Communications (TSE:RCI.B) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$50.33 and traded as high as C$51.69. Rogers Communications shares last traded at C$51.13, with a volume of 1,645,665 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD raised their price target on Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Canaccord Genuity Group decreased their price objective on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Morgan Stanley dropped their price objective on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. Scotiabank raised their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 7th. Finally, Desjardins set a C$58.00 target price on shares of Rogers Communications and gave the stock a “hold” rating in a report on Monday, August 24th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$59.00.

Rogers Communications Stock Performance

The firm has a market capitalization of C$27.65 billion, a price-to-earnings ratio of 4.49, a PEG ratio of 0.32 and a beta of 0.96. The company has a fifty day moving average of C$48.37 and a two-hundred day moving average of C$50.33. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers’ wireless business accounted for 60% of the company’s total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.