Rogers Communications Inc. (TSE:RCI.B – Get Free Report) (NYSE:RCI) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$51.26 and traded as low as C$50.64. Rogers Communications shares last traded at C$51.90, with a volume of 1,951,944 shares trading hands.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on RCI.B shares. TD raised shares of Rogers Communications from a “hold” rating to a “buy” rating and boosted their price target for the company from C$56.00 to C$60.00 in a research report on Thursday, April 23rd. Desjardins boosted their price target on shares of Rogers Communications from C$54.50 to C$59.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce boosted their price target on shares of Rogers Communications from C$61.00 to C$62.00 and gave the company an “outperformer” rating in a research report on Thursday, April 23rd. TD Securities lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and lowered their price target for the company from C$65.00 to C$56.00 in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rogers Communications from C$63.00 to C$65.00 in a research report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Rogers Communications has a consensus rating of “Moderate Buy” and an average target price of C$58.56.
Read Our Latest Research Report on Rogers Communications
Rogers Communications Stock Up 0.9%
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.
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