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

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$21.29 and traded as high as C$22.65. TELUS shares last traded at C$22.51, with a volume of 2,962,912 shares trading hands.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their target price on TELUS from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Scotiabank set a C$24.50 target price on TELUS and gave the company an "outperform" rating in a research report on Friday, June 13th. Canaccord Genuity Group lifted their price objective on TELUS from C$20.25 to C$21.50 in a research note on Monday, May 12th. BMO Capital Markets increased their price objective on TELUS from C$23.00 to C$24.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Bank of America cut TELUS from a "buy" rating to a "neutral" rating and decreased their target price for the company from C$24.00 to C$22.00 in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$23.04.

TELUS Stock Performance

The stock has a market capitalization of C$33.89 billion, a P/E ratio of 36.52, a P/E/G ratio of 1.65 and a beta of 0.72. The stock has a 50 day moving average of C$22.13 and a 200 day moving average of C$21.29. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69.

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.