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

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$46.85 and traded as high as C$48.86. Rogers Communications shares last traded at C$48.29, with a volume of 3,681,590 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RCI.B shares. TD lifted their target price on Rogers Communications from C$60.00 to C$65.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Desjardins upgraded Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 price target for the company in a research report on Monday, September 14th. Royal Bank Of Canada set a C$60.00 price target on Rogers Communications and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Canaccord Genuity Group cut their price objective on 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. Finally, Morgan Stanley reduced their price objective on shares of Rogers Communications from C$50.00 to C$42.00 in a research note on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$58.77.

Rogers Communications Stock Performance

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 stock has a market capitalization of C$26.09 billion, a PE ratio of 28.57, a PEG ratio of 0.32 and a beta of 1.09. The firm’s 50-day simple moving average is C$46.85 and its two-hundred day simple moving average is C$49.47.

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.