Rogers Communications (TSE:RCI.B) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Rogers Communications Inc. shares have recently crossed above their 200-day moving average, trading as high as C$48.94, with a last trading price of C$48.78.
• Analysts have differing outlooks on the stock, with target price adjustments ranging from C$48.00 to C$76.00, while the consensus rating remains a "Moderate Buy" with an average target of C$53.79.
• The company holds a market capitalization of C$20.57 billion and has a significant debt-to-equity ratio of 436.50, indicating possible financial risks.

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI's share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$39.60 and traded as high as C$48.94. Rogers Communications shares last traded at C$48.78, with a volume of 1,799,004 shares changing hands.

Wall Street Analyst Weigh In

RCI.B has been the topic of several research analyst reports. Canaccord Genuity Group increased their price target on shares of Rogers Communications from C$48.00 to C$52.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their target price on Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Desjardins raised their price objective on Rogers Communications from C$49.00 to C$51.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Scotiabank lowered their target price on shares of Rogers Communications from C$49.50 to C$48.50 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$53.79.

Rogers Communications Trading Up 0.7%

The firm has a market capitalization of C$20.74 billion, a P/E ratio of 30.17, a PEG ratio of 0.32 and a beta of 0.62. The business's 50 day moving average is C$43.91 and its two-hundred day moving average is C$39.70. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

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.