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

Shares of Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$51.20 and traded as high as C$53.01. Rogers Communications shares last traded at C$52.69, with a volume of 1,809,053 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RCI.B. Canadian Imperial Bank of Commerce raised their price objective on Rogers Communications from C$61.00 to C$62.00 and gave the stock an “outperformer” rating in a report on Thursday, April 23rd. Scotia upgraded Rogers Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. Desjardins increased their target price on shares of Rogers Communications from C$54.50 to C$59.00 and gave the stock a “hold” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada increased their target price on shares of Rogers Communications from C$61.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group lifted their price target on shares of Rogers Communications from C$55.00 to C$58.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.56.

Rogers Communications Price Performance

The company has a market cap of C$28.46 billion, a PE ratio of 4.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.89. The business’s 50 day moving average price is C$50.22 and its 200-day moving average price is C$51.20. 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. 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.