Rogers Communications (TSE:RCI.B) Shares Pass Above 200-Day Moving Average – Time to Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$44.48 and traded as high as C$52.96. Rogers Communications shares last traded at C$51.93, with a volume of 1,880,951 shares traded.

Analyst Ratings Changes

RCI.B has been the topic of several research reports. Scotiabank raised their price target on shares of Rogers Communications from C$55.75 to C$57.75 and gave the company a “sector perform” rating in a report on Sunday, October 26th. Desjardins lifted their target price on shares of Rogers Communications from C$53.00 to C$56.00 and gave the company a “buy” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price target on Rogers Communications from C$59.00 to C$62.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Canaccord Genuity Group raised their price objective on Rogers Communications from C$55.00 to C$57.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, National Bankshares increased their target price on Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rogers Communications presently has an average rating of “Moderate Buy” and a consensus target price of C$56.48.

Rogers Communications Trading Up 1.1%

The firm has a market cap of C$28.36 billion, a P/E ratio of 4.21, a price-to-earnings-growth ratio of 0.32 and a beta of 0.93. The business’s 50 day moving average is C$50.85 and its 200-day moving average is C$44.66. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

Rogers Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, October 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 3.8%. Rogers Communications’s payout ratio is presently 16.04%.

Rogers Communications Company Profile

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.