TELUS (TSE:T) Shares Pass Below 200 Day Moving Average on Analyst Downgrade

Key Points

• TELUS shares dropped below their 200-day moving average after an analyst from Desjardins reduced the price target from C$25.00 to C$24.00, although a buy rating remains in place.
• The company announced an increase in its quarterly dividend to $0.4163 per share, yielding 7.8%, with a high dividend payout ratio of 247.69%.
• Several analysts have varying views on TELUS, with a consensus rating of "Moderate Buy" and a price target averaging C$23.38.

TELUS Co. (TSE:T - Get Free Report) NYSE: TU shares crossed below its two hundred day moving average during trading on Friday after Desjardins lowered their price target on the stock from C$25.00 to C$24.00. The stock has a two hundred day moving average of C$21.82 and traded as low as C$21.21. Desjardins currently has a buy rating on the stock. TELUS shares last traded at C$21.34, with a volume of 5,827,910 shares.

Several other research firms have also recently weighed in on T. National Bankshares set a C$23.00 price target on shares of TELUS and gave the company a "sector perform" rating in a report on Tuesday, August 12th. BMO Capital Markets upped their price target on shares of TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Scotiabank upped their price target on shares of TELUS from C$25.00 to C$26.00 and gave the company an "outperform" rating in a report on Monday, September 8th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$23.38.

TELUS Trading Up 0.4%

The business's 50 day moving average price is C$22.20 and its two-hundred day moving average price is C$21.82. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. The company has a market capitalization of C$32.31 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 1.65 and a beta of 0.92.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were given a dividend of $0.4163 per share. This is an increase from TELUS's previous quarterly dividend of $0.40. This represents a $1.67 annualized dividend and a yield of 7.8%. TELUS's dividend payout ratio (DPR) is currently 247.69%.

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.

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