Rogers Communications (TSE:RCI.B) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Rogers Communications shares moved above their 200-day moving average, reaching C$51.69 before closing at C$51.13, compared with the C$50.33 average.
• Analyst sentiment remains positive overall, with nine Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a C$59.00 target price, despite mixed individual target revisions.
• Rogers has a C$27.62 billion market capitalization and a low reported P/E ratio of 4.49, but carries substantial leverage, with a debt-to-equity ratio of 436.50 and current and quick ratios below 1.

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$50.33 and traded as high as C$51.69. Rogers Communications shares last traded at C$51.13, with a volume of 1,645,665 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. Canaccord Genuity Group dropped their price target on shares of Rogers Communications from C$58.00 to C$57.50 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Royal Bank Of Canada set a C$60.00 price target on shares of Rogers Communications and gave the company an "outperform" rating in a research note on Thursday, July 23rd. TD upped their price objective on shares of Rogers Communications from C$60.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Finally, Desjardins set a C$58.00 price objective on shares of Rogers Communications and gave the stock a "hold" rating in a research report on Monday, August 24th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$59.00.

Rogers Communications Price Performance

The company has a fifty day moving average of C$48.39 and a 200-day moving average of C$50.33. 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 cap of C$27.62 billion, a PE ratio of 4.49, a P/E/G ratio of 0.32 and a beta of 0.96.

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.

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