Rogers Communications (TSE:RCI.B) Shares Pass Below 200 Day Moving Average – What’s Next?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$50.32 and traded as low as C$49.53. Rogers Communications shares last traded at C$49.78, with a volume of 2,500,172 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays increased their price target on Rogers Communications from C$46.00 to C$50.00 in a research report on Monday, November 10th. CIBC raised their target price on shares of Rogers Communications from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. National Bankshares upped their price target on shares of Rogers Communications from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Scotiabank cut their price target on shares of Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating for the company in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rogers Communications from C$59.00 to C$62.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$56.90.

Rogers Communications Stock Performance

The stock has a market capitalization of C$26.89 billion, a P/E ratio of 3.99, a PEG ratio of 0.32 and a beta of 1.03. The stock’s 50-day simple moving average is C$51.46 and its 200 day simple moving average is C$50.32. The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58.

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.