TELUS (TSE:T) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• TELUS shares crossed above their 200-day moving average, trading as high as C$23.07, signaling potential bullish momentum in the stock.
• Analysts set a variety of price targets for TELUS, with Scotiabank offering a target of C$24.50 and a general consensus rating of "Hold" among analysts.
• The company announced a quarterly dividend increase to $0.4163, resulting in an annualized yield of 7.3% amid a high dividend payout ratio of 253.11%.

TELUS Co. (TSE:T - Get Free Report) NYSE: TU shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$21.68 and traded as high as C$23.07. TELUS shares last traded at C$23.01, with a volume of 1,932,629 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented 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 research note on Tuesday, August 12th. Scotiabank set a C$24.50 price objective on shares of TELUS and gave the stock an "outperform" rating in a research note on Friday, June 13th. BMO Capital Markets raised their price objective on shares of TELUS from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Canaccord Genuity Group lifted their target price on shares of TELUS from C$20.25 to C$21.50 in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$23.18.

TELUS Price Performance

The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. The stock has a market cap of C$34.46 billion, a P/E ratio of 37.14, a PEG ratio of 1.65 and a beta of 0.72. The firm's fifty day moving average price is C$22.28 and its 200-day moving average price is C$21.72.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.4163 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.3%. This is a boost from TELUS's previous quarterly dividend of $0.40. 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.