Rogers Communications (TSE:RCI.B) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$39.07 and traded as high as C$46.72. Rogers Communications shares last traded at C$46.40, with a volume of 1,128,896 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Desjardins lifted their price objective on shares of Rogers Communications from C$49.00 to C$51.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Rogers Communications from C$55.00 to C$59.00 in a research report on Friday, July 25th. Scotiabank reduced their price target on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their price target on shares of Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of Rogers Communications from C$48.00 to C$52.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$53.29.

Rogers Communications Price Performance

The stock has a fifty day moving average of C$41.35 and a two-hundred day moving average of C$39.18. The stock has a market cap of C$19.61 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. 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.