Rogers Communications (TSE:RCI.B) Stock Crosses Below 200 Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyRogers Communications Inc. (TSE:RCI.B – Get Free Report) (NYSE:RCI)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$50.03 and traded as low as C$48.16. Rogers Communications shares last traded at C$48.28, with a volume of 2,120,367 shares traded.
Analysts Set New Price Targets
A number of research analysts recently weighed in on RCI.B shares. Scotiabank raised their target price on shares of Rogers Communications from C$60.50 to C$61.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 7th. Morgan Stanley cut their price objective on Rogers Communications from C$50.00 to C$42.00 in a research report on Tuesday, July 21st. Desjardins raised shares of Rogers Communications from a “hold” rating to a “buy” rating and set a C$58.00 target price on the stock in a research report on Monday, September 14th. TD raised their price target on Rogers Communications from C$60.00 to C$65.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, National Bank Financial cut their price objective on shares of Rogers Communications from C$63.00 to C$62.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$59.00.
View Our Latest Stock Report on Rogers Communications
Rogers Communications Stock Performance
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 firm has a market cap of C$25.38 billion, a price-to-earnings ratio of 4.12, a P/E/G ratio of 0.32 and a beta of 0.97. The firm has a fifty day simple moving average of C$49.33 and a two-hundred day simple moving average of C$49.91.
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.