Rogers Communications (TSE:RCI.B) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Rogers Communications Inc. (TSE:RCI.B – Get Free Report) (NYSE:RCI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$51.39 and traded as low as C$48.43. Rogers Communications shares last traded at C$48.98, with a volume of 3,509,015 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Securities lowered Rogers Communications from a “buy” rating to a “hold” rating and cut their target price for the stock from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Royal Bank Of Canada raised their target price on 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. Scotiabank cut their target price on Rogers Communications from C$58.00 to C$57.75 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Desjardins raised their target price on 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. Finally, Scotia raised 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 research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$58.56.

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Rogers Communications Stock Up 0.8%

The firm has a 50 day simple moving average of C$50.06 and a two-hundred day simple moving average of C$51.39. The company has a market capitalization of C$26.46 billion, a PE ratio of 3.76, a P/E/G ratio of 0.32 and a beta of 1.02. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50.

Rogers Communications Company Profile

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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.

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