TELUS (TSE:T) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• TELUS' stock price has surpassed its 200-day moving average of C$21.61, recently trading at C$22.36 with a volume of over 4 million shares.
• Analysts have set a consensus price target of C$23.18 for TELUS, with ratings varying from "hold" to "outperform" from various firms including Scotiabank and BMO Capital Markets.
• The company announced an increase in its quarterly dividend to $0.4163 per share, offering an annualized dividend yield of 7.4% as of the upcoming payment date on October 1.

TELUS Co. (TSE:T - Get Free Report) NYSE: TU shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.61 and traded as high as C$22.46. TELUS shares last traded at C$22.36, with a volume of 4,483,730 shares traded.

Analyst Ratings Changes

T has been the subject of several research reports. Canaccord Genuity Group raised their price target on shares of TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. National Bankshares set a C$23.00 price target on shares of TELUS and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Scotiabank set a C$24.50 price objective on shares of TELUS and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, BMO Capital Markets raised their price objective on shares of TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$23.18.

TELUS Price Performance

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 stock's 50 day simple moving average is C$22.18 and its two-hundred day simple moving average is C$21.63. The stock has a market cap of C$34.10 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.4163 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. This is an increase from TELUS's previous quarterly dividend of $0.40. TELUS's payout ratio is currently 253.11%.

TELUS Company Profile

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.