TELUS (TSE:T) Share Price Breaks Below 50-Day Moving Average – What’s Next?

TELUS Co. (TSE:T) (NYSE:TU) shares passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$12.16 and traded as low as C$12.04. TELUS shares last traded at C$12.14, with a volume of 5,681,223 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. National Bank Financial raised their target price on TELUS from C$13.00 to C$14.00 and gave the stock a “sector perform” rating in a research note on Monday. Raymond James Financial set a C$18.50 price target on TELUS and gave the company a “market perform” rating in a research note on Thursday, July 16th. Morgan Stanley lowered TELUS from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from C$20.00 to C$13.00 in a report on Tuesday, July 21st. Scotia increased their price objective on TELUS from C$15.25 to C$16.25 and gave the company a “sector perform” rating in a report on Monday. Finally, Desjardins reduced their price objective on TELUS from C$13.50 to C$13.00 and set a “hold” rating for the company in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, TELUS currently has a consensus rating of “Hold” and an average price target of C$16.43.

TELUS Price Performance

The firm has a market capitalization of C$19.30 billion, a PE ratio of -9.13, a P/E/G ratio of 1.65 and a beta of 0.70. The firm’s fifty day moving average price is C$12.16 and its 200 day moving average price is C$15.45. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 233.28.

TELUS (TSE:T) (NYSE:TU) last issued its earnings results on Friday, November 6th. The company reported C$0.16 earnings per share (EPS) for the quarter. The firm had revenue of C$5.02 billion during the quarter. TELUS had a negative net margin of 10.31% and a negative return on equity of 14.32%. As a group, equities analysts forecast that TELUS Co. will post 1.23 earnings per share for the current year.

TELUS Company Profile

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.