Rogers Communications (TSE:RCI.B) Stock Price Crosses Above Two Hundred 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 200-day moving average during trading on Friday . The stock has a 200-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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Canaccord Genuity Group boosted 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. TD Securities boosted their price objective on shares of Rogers Communications from C$57.00 to C$58.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Rogers Communications from C$55.00 to C$59.00 in a research report on Friday, July 25th. Desjardins upped their price target 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. Finally, BMO Capital Markets upped their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$53.79.

Rogers Communications Stock Up 1.0%

The stock's 50-day simple moving average is C$44.39 and its 200 day simple moving average is C$39.83. The firm has a market cap of C$20.88 billion, a P/E ratio of 30.38, a PEG 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.

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.