Telus Corporation (NYSE:TU) traded today at a new 52-week high of $23.28. This new high was reached on below average trading volume as 217,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.
Telus Corporation (NYSE:TU) is currently priced 1.1% above its average consensus analyst price target of $22.88.
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 also the ILEC (incumbent local exchange carrier; the legacy telephone provider) in the western Canadian provinces of British Columbia and Alberta, where it provides Internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers. Telus’ other businesses participate in the international business services, health, security, and agriculture industries.
Over the past year, Telus Corporation has traded in a range of $16.21 to $23.28 and is now at $23.14, 43% above that low.
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