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

Key Points

• Rogers Communications shares have surpassed their 50-day moving average of C$44.92, reaching a high of C$49.20 during trading, and last trading at C$47.80.
• The company holds a market capitalization of C$5.31 billion and has a notably high debt-to-equity ratio of 436.50, indicating a significant amount of debt relative to equity.
• As Canada's largest wireless service provider, Rogers Communications caters to over 10 million subscribers, which accounted for 60% of its total sales in 2021.

Shares of Rogers Communications Inc. (TSE:RCI.A - Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$44.92 and traded as high as C$49.20. Rogers Communications shares last traded at C$47.80, with a volume of 4,265 shares changing hands.

Rogers Communications Trading Up 3.0%

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 company has a market capitalization of C$5.50 billion, a PE ratio of 30.37, a PEG ratio of 0.95 and a beta of 0.62. The business's 50-day simple moving average is C$45.40 and its two-hundred day simple moving average is C$43.23.

About Rogers Communications

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.