Rogers Communications (TSE:RCI.B) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$49.80 and traded as low as C$38.45. Rogers Communications shares last traded at C$38.55, with a volume of 3,356,801 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RCI.B. TD Securities reduced their target price on Rogers Communications from C$65.00 to C$63.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Canaccord Genuity Group reduced their price objective on shares of Rogers Communications from C$55.00 to C$46.00 in a report on Tuesday, January 7th. Royal Bank of Canada decreased their target price on shares of Rogers Communications from C$66.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Barclays cut shares of Rogers Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Finally, Scotiabank lowered their price objective on Rogers Communications from C$66.50 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rogers Communications presently has a consensus rating of “Moderate Buy” and an average target price of C$60.23.

Rogers Communications Stock Up 0.1 %

The company has a market cap of C$16.25 billion, a P/E ratio of 23.65, a PEG ratio of 0.32 and a beta of 0.62. 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 business’s 50 day moving average price is C$43.85 and its 200-day moving average price is C$49.80.

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.