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

Shares of TELUS Co. (TSE:T) (NYSE:TU) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$19.83 and traded as low as C$18.35. TELUS shares last traded at C$18.58, with a volume of 7,421,419 shares.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Desjardins set a C$23.00 target price on TELUS and gave the company a “buy” rating in a research note on Monday, January 12th. BMO Capital Markets lowered TELUS from an “outperform” rating to a “hold” rating and decreased their price target for the stock from C$23.00 to C$19.00 in a research note on Thursday, December 11th. Morgan Stanley dropped their price objective on shares of TELUS from C$25.00 to C$20.00 in a research note on Wednesday, December 10th. JPMorgan Chase & Co. lowered shares of TELUS from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from C$22.00 to C$19.00 in a report on Tuesday, November 18th. Finally, Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$21.38.

TELUS Stock Down 0.3%

The stock has a fifty day moving average of C$18.70 and a two-hundred day moving average of C$19.83. The company has a quick ratio of 0.52, a current ratio of 0.86 and a debt-to-equity ratio of 199.42. The stock has a market cap of C$29.00 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.65 and a beta of 0.61.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Thursday, February 12th. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm 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%. As a group, analysts predict that TELUS Co. will post 1.2267985 EPS for the current fiscal year.

Insider Transactions at TELUS

In other news, Director Darren Entwistle bought 190,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was acquired at an average price of C$17.38 per share, for a total transaction of C$3,302,200.00. Following the acquisition, the director owned 1,070,741 shares of the company’s stock, valued at C$18,609,478.58. This trade represents a 21.57% increase in their ownership of the stock. Also, Director Thomas Earl Flynn bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were acquired at an average cost of C$17.45 per share, with a total value of C$52,350.00. Following the transaction, the director owned 14,389 shares in the company, valued at approximately C$251,088.05. This represents a 26.34% increase in their position. Over the last quarter, insiders acquired 258,245 shares of company stock valued at $4,486,022. 0.02% of the stock is currently owned by company 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.