Rogers Communications (TSE:RCI.B) Shares Break Above 50 Day Moving Average – Time to Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$46.85 and traded as high as C$48.86. Rogers Communications shares last traded at C$48.29, with a volume of 3,681,590 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RCI.B. Raymond James Financial set a C$68.00 price target on Rogers Communications and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Desjardins raised Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 price target on the stock in a report on Monday, September 14th. Royal Bank Of Canada set a C$60.00 price objective on shares of Rogers Communications and gave the company an “outperform” rating in a research note on Thursday, July 23rd. National Bank Financial reduced their price objective on shares of Rogers Communications from C$62.00 to C$59.00 in a report on Wednesday, September 30th. Finally, TD increased their target price on shares of Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$58.77.

Rogers Communications Trading Up 3.2%

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 business has a 50 day simple moving average of C$46.85 and a 200-day simple moving average of C$49.47. The stock has a market capitalization of C$26.09 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 0.32 and a beta of 1.09.

About Rogers Communications

Rogers is Canada’s communications, sports and entertainment company, and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.