Rogers Communications (TSE:RCI.B) Stock Passes Above 200-Day Moving Average of $54.48

Rogers Communications Inc. (TSE:RCI.B) (NYSE:RCI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$54.48 and traded as high as C$55.12. Rogers Communications shares last traded at C$54.63, with a volume of 1,367,174 shares traded.

Wall Street Analyst Weigh In

RCI.B has been the subject of several recent analyst reports. Canaccord Genuity Group cut shares of Rogers Communications from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$59.00 to C$57.00 in a report on Thursday, July 25th. Royal Bank of Canada decreased their price objective on shares of Rogers Communications from C$67.00 to C$65.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. cut their target price on shares of Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. TD Securities reduced their target price on Rogers Communications from C$74.00 to C$70.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Cormark lowered their price target on Rogers Communications from C$74.00 to C$72.00 in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rogers Communications has a consensus rating of “Moderate Buy” and an average target price of C$69.13.

Rogers Communications Trading Down 0.4 %

The stock has a market capitalization of C$23.04 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The company has a fifty day moving average of C$52.45 and a two-hundred day moving average of C$54.48.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.