Rogers Communications (TSE:RCI.B) Shares Cross Below 200 Day Moving Average – What’s Next?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$48.88 and traded as low as C$43.26. Rogers Communications shares last traded at C$44.15, with a volume of 1,794,880 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RCI.B shares. Canaccord Genuity Group dropped their target price on shares of Rogers Communications from C$58.00 to C$57.50 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Raymond James Financial set a C$68.00 price target on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday, July 16th. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price on the stock in a research note on Monday, September 14th. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Scotiabank increased their target price on Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$58.77.

Rogers Communications Stock Down 0.1%

The firm has a market cap of C$24.43 billion, a P/E ratio of 3.97, a PEG ratio of 0.32 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. The stock’s 50-day simple moving average is C$48.11 and its 200 day simple moving average is C$48.82.

About Rogers Communications

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.