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Rogers Communications (TSE:RCI.A) Stock Passes Above 50-Day Moving Average - Here's Why

Rogers Communications logo with Communication Services background

Key Points

  • Rogers Communications Inc. (TSE:RCI.A) saw its share price surpass the 50-day moving average, reaching C$51.00 during trading, indicating a potential upward trend.
  • The company holds a significant debt-to-equity ratio of 436.50, which may raise concerns regarding its financial stability amid a market capitalization of C$5.67 billion.
  • As Canada’s largest wireless service provider, Rogers commands a one-third market share with over 10 million subscribers, contributing to 60% of its total sales in 2021.
  • Want stock alerts on Rogers Communications? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Rogers Communications Inc. (TSE:RCI.A - Get Free Report)'s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$46.16 and traded as high as C$51.00. Rogers Communications shares last traded at C$51.00, with a volume of 2,861 shares changing hands.

Rogers Communications Stock Performance

The company has a market capitalization of C$5.77 billion, a PE ratio of 31.87, a PEG ratio of 0.95 and a beta of 0.62. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. The company has a 50 day moving average price of C$46.60 and a 200 day moving average price of C$43.41.

Rogers Communications Company Profile

(Get Free Report)

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.

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