TELUS (TSE:T) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

TELUS Co. (TSE:T) (NYSE:TU) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.90 and traded as low as C$18.13. TELUS shares last traded at C$18.21, with a volume of 5,748,642 shares changing hands.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of TELUS from a “neutral” rating to an “underweight” rating and lowered their target price for the company from C$22.00 to C$19.00 in a report on Tuesday, November 18th. CIBC lifted their price objective on TELUS from C$24.00 to C$25.00 in a report on Friday, October 17th. BMO Capital Markets downgraded TELUS from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$23.00 to C$19.00 in a research note on Thursday, December 11th. Desjardins reduced their price target on TELUS from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Finally, Morgan Stanley dropped their price objective on TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$22.21.

TELUS Stock Performance

The stock’s 50-day moving average price is C$18.72 and its 200-day moving average price is C$20.90. The company has a market capitalization of C$28.24 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 1.65 and a beta of 0.85. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. The firm had revenue of C$5.07 billion during the quarter. TELUS had a return on equity of 5.80% and a net margin of 4.62%. As a group, equities research analysts expect that TELUS Co. will post 1.2267985 earnings per share for the current year.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.