Rogers Communications (TSE:RCI.B) Stock Passes Above 200-Day Moving Average – What’s Next?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$51.20 and traded as high as C$53.01. Rogers Communications shares last traded at C$52.69, with a volume of 1,809,053 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotia raised shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from C$57.75 to C$60.50 in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised their price target on shares of Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a research note on Thursday, April 23rd. TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$56.00 to C$60.00 in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Finally, Canaccord Genuity Group upped their price objective on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rogers Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.56.

Rogers Communications Stock Performance

The company has a market cap of C$28.46 billion, a price-to-earnings ratio of 4.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89. The stock’s fifty day simple moving average is C$50.22 and its two-hundred day simple moving average is C$51.20. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65.

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.