Telecom Plus (LON:TEP) Stock Price Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Telecom Plus shares fell below their 200-day moving average, trading as low as GBX 863 and last changing hands at GBX 872.49 on heavy volume of nearly 9.84 million shares.
• Analysts have lowered their expectations: Berenberg cut its target to GBX 1,200 and Deutsche Bank reduced its target to GBX 700. Despite the revisions, the consensus rating remains “Moderate Buy” with a GBX 1,500 target.
• Recent results included quarterly EPS of GBX 102.20 on revenue of GBX 194.11 billion, while insiders bought shares and collectively own 19.13% of the company.

Telecom Plus Plc (LON:TEP - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,109.66 and traded as low as GBX 863. Telecom Plus shares last traded at GBX 872.49, with a volume of 9,839,623 shares traded.

Analysts Set New Price Targets

TEP has been the subject of several analyst reports. Berenberg Bank downgraded Telecom Plus to a "buy" rating and reduced their target price for the company from GBX 2,600 to GBX 1,200 in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft cut Telecom Plus to a "hold" rating and dropped their price target for the stock from GBX 1,300 to GBX 700 in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,500.

Telecom Plus Trading Up 0.1%

The company has a current ratio of 1.58, a quick ratio of 1.28 and a debt-to-equity ratio of 87.91. The company has a market cap of £681.06 million, a PE ratio of 8.73, a P/E/G ratio of 2.86 and a beta of 0.43. The business's 50-day simple moving average is GBX 856.08 and its 200-day simple moving average is GBX 1,109.66.

Telecom Plus (LON:TEP - Get Free Report) last issued its earnings results on Wednesday, June 24th. The company reported GBX 102.20 earnings per share (EPS) for the quarter. Telecom Plus had a net margin of 4.16% and a return on equity of 32.38%. The company had revenue of GBX 194.11 billion during the quarter. As a group, analysts expect that Telecom Plus Plc will post 118.0645161 EPS for the current fiscal year.

Insider Activity

In other news, insider Phil Bunker purchased 645 shares of Telecom Plus stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of GBX 870 per share, for a total transaction of £5,611.50. Also, insider Carla Stent purchased 645 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average cost of GBX 870 per share, with a total value of £5,611.50. In the last quarter, insiders have acquired 840,225 shares of company stock valued at $627,314,262. 19.13% of the stock is currently owned by company insiders.

Telecom Plus Company Profile

Telecom Plus Plc provides a range of utility services in the United Kingdom. It offers various services, including gas, electricity, fixed line telephony, mobile telephony, broadband, and insurance, as well as bill protection and life cover, home insurance and boiler cover, and cashback card services under the Utility Warehouse and TML brands. Telecom Plus Plc was incorporated in 1996 and is based in London, the United Kingdom.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.