Rogers Communications (TSE:RCI.B) Stock Passes Below 200 Day Moving Average - What's Next?

Shares of Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RCI.B shares. Canaccord Genuity Group decreased their price target on shares of Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. Bank of America dropped their target price on shares of Rogers Communications from C$55.00 to C$50.00 in a research report on Monday, February 3rd. National Bankshares cut their target price on shares of Rogers Communications from C$62.00 to C$54.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. Barclays downgraded Rogers Communications from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from C$63.00 to C$39.00 in a research note on Thursday, January 30th. Finally, Scotiabank cut 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Rogers Communications presently has an average rating of "Moderate Buy" and a consensus price target of C$60.31.

Rogers Communications Stock Performance

The stock has a market cap of C$16.76 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.62. The company's 50-day simple moving average is C$42.97 and its 200-day simple moving average is C$49.49. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50.

About Rogers Communications

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.