Rogers Communications (TSE:RCI.B) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI)’s stock price crossed 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Securities cut shares of Rogers Communications from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$65.00 to C$56.00 in a report on Thursday, April 2nd. Desjardins raised 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 report on Thursday, April 23rd. Scotia upgraded shares of Rogers Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from C$57.75 to C$60.50 in a report on Thursday, April 23rd. National Bank Financial raised their target price on shares of Rogers Communications from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, TD upgraded shares of Rogers Communications from a “hold” rating to a “buy” rating and raised their target price for the stock from C$56.00 to C$60.00 in a report on Thursday, April 23rd. Eight 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 stock has an average rating of “Moderate Buy” and an average price target of C$58.56.

Rogers Communications Stock Down 0.3%

The company has a debt-to-equity ratio of 436.50, a current ratio of 0.65 and a quick ratio of 0.58. The stock has a market capitalization of C$29.13 billion, a P/E ratio of 4.13, a PEG ratio of 0.32 and a beta of 0.89. The stock’s fifty day moving average is C$49.64 and its two-hundred day moving average is C$51.24.

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.