Rogers Communications (TSE:RCI.B) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed 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.

Wall Street Analyst Weigh In

A number of research firms have commented on RCI.B. TD Securities lifted their target price on Rogers Communications from C$64.00 to C$67.00 and gave the company a “buy” rating in a research report on Friday, January 30th. National Bank Financial boosted their price objective on shares of Rogers Communications from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Barclays upped their target price on shares of Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. Canadian Imperial Bank of Commerce lifted their price target on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Finally, Desjardins reduced their price target on shares of Rogers Communications from C$57.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$57.73.

Rogers Communications Stock Down 0.8%

The business’s fifty day moving average is C$50.80 and its two-hundred day moving average is C$50.84. The stock has a market cap of C$28.33 billion, a price-to-earnings ratio of 4.12, a PEG ratio of 0.32 and a beta of 1.07. 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 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.