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

TELUS Co. (TSE:T) (NYSE:TU) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$12.16 and traded as low as C$12.04. TELUS shares last traded at C$12.14, with a volume of 5,681,223 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Scotiabank dropped 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. Scotia boosted their target price on shares of TELUS from C$15.25 to C$16.25 and gave the stock a “sector perform” rating in a report on Monday. Desjardins decreased their price target on shares of TELUS from C$13.50 to C$13.00 and set a “hold” rating for the company in a research report on Wednesday, October 7th. Canadian Imperial Bank of Commerce cut their price objective on shares of TELUS from C$15.00 to C$14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, National Bank Financial boosted their price objective on shares of TELUS from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$16.43.

TELUS Stock Down 1.5%

The company has a 50-day moving average of C$12.16 and a 200-day moving average of C$15.45. The company has a market capitalization of C$19.30 billion, a price-to-earnings ratio of -9.13, a price-to-earnings-growth ratio of 1.65 and a beta of 0.70. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 233.28.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings results on Friday, November 6th. The company reported C$0.16 earnings per share for the quarter. TELUS had a negative return on equity of 14.32% and a negative net margin of 10.31%. The business had revenue of C$5.02 billion for the quarter. On average, equities analysts predict that TELUS Co. will post 1.23 earnings per share for the current fiscal year.

About TELUS

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.