TELUS (NYSE:TU) Shares Cross Below 50 Day Moving Average – Here’s What Happened

TELUS Corporation (NYSE:TU) (TSE:T)’s stock price crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.67 and traded as low as $8.63. TELUS shares last traded at $8.6650, with a volume of 4,387,963 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of TELUS in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of TELUS in a report on Thursday, October 8th. TD Securities restated a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Royal Bank Of Canada cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $15.00.

TELUS Price Performance

The company has a market cap of $13.77 billion, a PE ratio of -9.22, a PEG ratio of 13.87 and a beta of 0.63. The firm’s 50-day moving average is $8.67 and its 200-day moving average is $11.16. The company has a quick ratio of 0.62, a current ratio of 0.63 and a debt-to-equity ratio of 1.82.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, November 6th. The Wireless communications provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). TELUS had a positive return on equity of 7.66% and a negative net margin of 10.27%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $3.50 billion. On average, equities analysts anticipate that TELUS Corporation will post 0.35 EPS for the current year.

TELUS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be issued a dividend of C$0.19 per share. The ex-dividend date is Friday, December 11th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.7%. TELUS’s dividend payout ratio is -56.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S bought a new stake in shares of TELUS during the second quarter valued at approximately $33,000. SBI Securities Co. Ltd. grew its stake in TELUS by 79.6% in the third quarter. SBI Securities Co. Ltd. now owns 3,695 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 1,638 shares during the period. Trust Co. of Vermont bought a new position in TELUS in the second quarter worth $55,000. Advisors Asset Management Inc. bought a new position in TELUS in the third quarter worth $73,000. Finally, ABN Amro Investment Solutions bought a new position in TELUS in the first quarter worth $150,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

About TELUS

TELUS is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Its core services include wireless voice and data, internet, television and home phone offerings, as well as communications and technology solutions for businesses and public-sector organizations. The company also operates TELUS Health, which provides digital health services and technology, and TELUS Agriculture & Consumer Goods, which offers technology and data solutions for the agriculture and food industries.