TELUS (TSE:T) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

TELUS Co. (TSE:T) (NYSE:TU) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$19.51 and traded as low as C$17.91. TELUS shares last traded at C$18.10, with a volume of 4,742,442 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on T. Morgan Stanley reduced their target price on TELUS from C$25.00 to C$20.00 in a research note on Wednesday, December 10th. ATB Cormark Capital Markets dropped their price target on TELUS from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Friday, February 13th. BMO Capital Markets lowered TELUS from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$23.00 to C$19.00 in a report on Thursday, December 11th. Canaccord Genuity Group raised TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, National Bank Financial 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. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$21.32.

TELUS Stock Up 0.3%

The company has a debt-to-equity ratio of 199.42, a quick ratio of 0.52 and a current ratio of 0.86. The company has a market cap of C$28.25 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. The stock’s fifty day moving average is C$18.69 and its two-hundred day moving average is C$19.51.

TELUS (TSE:T) (NYSE:TU) last released its quarterly earnings results on Thursday, February 12th. The company reported C$0.20 earnings per share (EPS) for the quarter. The business had revenue of C$5.23 billion during the quarter. TELUS had a return on equity of 7.68% and a net margin of 5.47%. Sell-side analysts predict that TELUS Co. will post 1.2267985 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hazel Cynthia Claxton acquired 3,445 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were acquired at an average cost of C$17.46 per share, for a total transaction of C$60,149.70. Following the purchase, the director owned 8,403 shares in the company, valued at approximately C$146,716.38. The trade was a 69.48% increase in their ownership of the stock. Also, Director Thomas Earl Flynn bought 3,000 shares of TELUS stock in a transaction dated Wednesday, December 24th. The stock was purchased at an average price of C$17.45 per share, with a total value of C$52,350.00. Following the purchase, the director owned 14,389 shares in the company, valued at approximately C$251,088.05. This represents a 26.34% increase in their ownership of the stock. Corporate insiders own 0.02% of the company’s stock.

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.