TELUS (TSE:T) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• TELUS's share price recently surged above its 200-day moving average, reaching a high of C$22.66 during trading.
• Several analysts have increased their price targets for TELUS, with the consensus target now set at C$23.04 and a majority rating the stock as a hold.
• The company, a major Canadian wireless service provider, has a market cap of C$34.01 billion and a debt-to-equity ratio of 183.41.

Shares of TELUS Co. (TSE:T - Get Free Report) NYSE: TU passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$21.41 and traded as high as C$22.66. TELUS shares last traded at C$22.55, with a volume of 2,798,528 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on T shares. BMO Capital Markets raised their target price on TELUS from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada cut their price objective on shares of TELUS from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Scotiabank set a C$24.50 price objective on shares of TELUS and gave the stock an "outperform" rating in a report on Friday, June 13th. National Bankshares raised their price objective on shares of TELUS from C$22.00 to C$23.00 and gave the stock a "sector perform" rating in a report on Friday, June 6th. Finally, Canaccord Genuity Group raised their price objective on shares of TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$23.04.

TELUS Price Performance

The stock has a market capitalization of C$33.79 billion, a PE ratio of 36.41, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. The company has a 50-day moving average of C$22.23 and a two-hundred day moving average of C$21.44.

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.