Rogers Communications (TSE:RCI.B) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$51.22 and traded as high as C$54.32. Rogers Communications shares last traded at C$54.10, with a volume of 1,372,299 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on RCI.B. TD upgraded Rogers Communications from a “hold” rating to a “buy” rating and raised their target price for the company from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised their target price on Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. National Bank Financial raised their target price on Rogers Communications from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Rogers Communications from C$63.00 to C$65.00 in a research note on Monday, April 27th. Finally, Canaccord Genuity Group increased their price target on Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$58.56.

Rogers Communications Trading Up 0.4%

The business has a 50 day simple moving average of C$49.62 and a 200-day simple moving average of C$51.22. 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 stock has a market capitalization of C$29.23 billion, a P/E ratio of 4.15, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89.

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. Rogers’ cable segment, which provides about one fourth of total sales, offers home internet, television, and landline phone service to consumers and businesses. Remaining sales come from Rogers’ media unit, which owns and operates various television and radio stations and the Toronto Blue Jays.