TELUS (TSE:T) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

TELUS Co. (TSE:T) (NYSE:TU) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of C$12.31 and traded as high as C$12.41. TELUS shares last traded at C$12.37, with a volume of 9,025,309 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on T shares. National Bank Financial dropped their price objective on shares of TELUS from C$15.00 to C$13.00 in a research note on Wednesday, September 30th. Canadian Imperial Bank of Commerce lowered their target price on shares of TELUS from C$15.00 to C$14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Morgan Stanley downgraded shares of TELUS from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from C$20.00 to C$13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Scotiabank lowered their price objective on TELUS from C$17.00 to C$15.25 and set a “sector perform” rating on the stock in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$16.30.

TELUS Trading Up 2.4%

The business’s fifty day simple moving average is C$12.31 and its 200 day simple moving average is C$15.72. The stock has a market cap of C$19.48 billion, a price-to-earnings ratio of -20.97, a P/E/G ratio of 1.65 and a beta of 0.59. The company has a debt-to-equity ratio of 236.85, a current ratio of 0.67 and a quick ratio of 0.52.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Friday, July 31st. The company reported C$0.16 earnings per share for the quarter. The business had revenue of C$4.92 billion for the quarter. TELUS had a negative net margin of 4.55% and a negative return on equity of 6.56%. On average, research analysts predict that TELUS Co. will post 1.23 EPS for the current year.

TELUS Company Profile

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.