TELUS (TSE:T) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

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 crossed 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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. BMO Capital Markets lifted their target price 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. National Bankshares set a C$23.00 target price on shares of TELUS and gave the company a "sector perform" rating in a report on Tuesday. Canaccord Genuity Group lifted their target price on shares of TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. Finally, Scotiabank set a C$24.50 target price on shares of TELUS and gave the company an "outperform" rating in a report on Friday, June 13th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$23.18.

TELUS Trading Up 0.9%

The company's 50 day simple moving average is C$22.18 and its 200 day simple moving average is C$21.63. The firm 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. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52.

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 $0.4163 dividend. This is an increase from TELUS's previous quarterly dividend of $0.40. This represents a $1.67 annualized dividend and a dividend yield of 7.4%. TELUS's payout ratio is 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.