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

TELUS Co. (TSE:T - Get Free Report) NYSE: TU's stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$21.07 and traded as high as C$21.12. TELUS shares last traded at C$20.72, with a volume of 3,103,767 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on T shares. Royal Bank of Canada lowered their price objective on shares of TELUS from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group cut their price objective on TELUS from C$21.25 to C$20.25 and set a "hold" rating for the company in a research report on Monday, April 7th. Scotiabank set a C$23.50 target price on TELUS and gave the company an "outperform" rating in a research note on Wednesday, April 16th. TD Securities raised their price target on TELUS from C$24.00 to C$25.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Cormark downgraded TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$22.77.

TELUS Stock Down 1.8 %

The firm has a fifty day simple moving average of C$21.00 and a 200 day simple moving average of C$21.06. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69. The company has a market cap of C$31.20 billion, a PE ratio of 33.62, a PEG ratio of 1.65 and a beta of 0.72.

Insider Activity at TELUS

In other news, Director Hazel Cynthia Claxton bought 1,845 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of C$21.70 per share, for a total transaction of C$40,036.50. 0.02% of the stock is owned by insiders.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.