TELUS (TSE:T) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

TELUS Co. (TSE:T) (NYSE:TU)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.32 and traded as low as C$19.30. TELUS shares last traded at C$19.42, with a volume of 9,626,510 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on T. Scotiabank dropped their price objective on TELUS from C$22.50 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, January 20th. JPMorgan Chase & Co. cut TELUS from a “neutral” rating to an “underweight” rating and decreased their target price for the company from C$22.00 to C$19.00 in a research report on Tuesday, November 18th. Desjardins set a C$23.00 price target on TELUS and gave the stock a “buy” rating in a research note on Monday, January 12th. Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, National Bankshares decreased their price objective on TELUS from C$21.50 to C$21.00 and set an “outperform” rating for the company in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TELUS has a consensus rating of “Moderate Buy” and a consensus target price of C$21.95.

TELUS Trading Up 0.8%

The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. The company’s fifty day moving average price is C$18.38 and its two-hundred day moving average price is C$20.32. The firm has a market cap of C$30.12 billion, a PE ratio of 24.90, a P/E/G ratio of 1.65 and a beta of 0.79.

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

Insiders Place Their Bets

In related news, Director David Lawrence Mowat purchased 3,000 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were acquired at an average cost of C$17.37 per share, with a total value of C$52,110.00. Following the purchase, the director directly owned 14,486 shares in the company, valued at C$251,621.82. This trade represents a 26.12% increase in their position. Also, Director Thomas Earl Flynn acquired 3,000 shares of TELUS stock in a transaction that occurred on Wednesday, December 24th. The stock was bought at an average price of C$17.45 per share, with a total value of C$52,350.00. Following the purchase, the director directly owned 14,389 shares of the company’s stock, valued at approximately C$251,088.05. This trade represents a 26.34% increase in their ownership of the stock. Over the last three months, insiders have bought 258,245 shares of company stock worth $4,486,022. 0.02% of the stock is owned by insiders.

About TELUS

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.