Rogers Communications (TSE:RCI.B) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$50.80 and traded as high as C$53.15. Rogers Communications shares last traded at C$52.87, with a volume of 1,284,027 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RCI.B shares. Scotiabank reduced their price target on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a report on Tuesday, January 20th. Barclays raised their price objective on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Canaccord Genuity Group boosted their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, January 30th. National Bank Financial increased their price target 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. Finally, JPMorgan Chase & Co. raised 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. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$57.73.

Rogers Communications Stock Up 0.6%

The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The firm has a market cap of C$28.56 billion, a price-to-earnings ratio of 4.15, a PEG ratio of 0.32 and a beta of 1.07. The firm’s 50 day simple moving average is C$50.77 and its two-hundred day simple moving average is C$50.80.

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. 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.