TELUS (NYSE:TU) Stock Crosses Above 50 Day Moving Average – What’s Next?

TELUS Corporation (NYSE:TU) (TSE:T)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $8.79 and traded as high as $8.90. TELUS shares last traded at $8.86, with a volume of 6,293,077 shares traded.

Wall Street Analysts Forecast Growth

TU has been the subject of several research reports. Raymond James Financial started coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Morgan Stanley downgraded TELUS to an “underweight” rating in a research report on Tuesday, July 21st. TD Securities reaffirmed a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Weiss Ratings downgraded shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 5th. Finally, Desjardins cut TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, TELUS currently has an average rating of “Reduce” and a consensus target price of $15.00.

TELUS Stock Performance

The business has a 50-day moving average price of $8.79 and a 200 day moving average price of $11.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.67. The stock has a market capitalization of $14.08 billion, a P/E ratio of -21.61, a PEG ratio of 20.91 and a beta of 0.65.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.55 billion. TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. As a group, sell-side analysts forecast that TELUS Corporation will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Heathbridge Capital Management Ltd. increased its stake in TELUS by 69.9% during the third quarter. Heathbridge Capital Management Ltd. now owns 2,491,200 shares of the Wireless communications provider’s stock valued at $20,915,000 after acquiring an additional 1,025,100 shares during the period. Vise Technologies Inc. acquired a new stake in shares of TELUS during the third quarter worth $168,000. Cidel Asset Management Inc. lifted its holdings in shares of TELUS by 11.9% during the 3rd quarter. Cidel Asset Management Inc. now owns 18,063 shares of the Wireless communications provider’s stock worth $152,000 after acquiring an additional 1,920 shares during the period. Intrua Financial LLC boosted its holdings in shares of TELUS by 26.8% during the 3rd quarter. Intrua Financial LLC now owns 31,548 shares of the Wireless communications provider’s stock valued at $265,000 after acquiring an additional 6,665 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of TELUS by 0.5% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 396,106 shares of the Wireless communications provider’s stock worth $3,326,000 after purchasing an additional 2,155 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Company Profile

TELUS Corporation is a Canadian communications and technology company headquartered in Vancouver, British Columbia. It provides telecommunications and digital services to consumers, businesses and public-sector organizations, primarily in Canada.

Its core offerings include wireless voice and data services, high-speed internet, television, home security and fixed-line voice services. TELUS also provides business connectivity, cloud, cybersecurity, information technology and communications solutions.