TD Securities Downgrades TELUS (NYSE:TU) to Hold

TELUS (NYSE:TU) (TSE:T) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Finviz reports.

A number of other analysts have also recently commented on the company. National Bank Financial reaffirmed an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a report on Friday, March 27th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research note on Tuesday, February 17th. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TELUS presently has an average rating of “Hold” and an average price target of $17.63.

TELUS Stock Performance

TU stock opened at $12.98 on Thursday. TELUS has a twelve month low of $12.54 and a twelve month high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The company has a market cap of $20.09 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.68. The business’s fifty day moving average is $13.58 and its 200-day moving average is $13.96.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that TELUS will post 0.71 EPS for the current year.

Institutional Trading of TELUS

Several hedge funds have recently bought and sold shares of the stock. Parvin Asset Management LLC acquired a new position in shares of TELUS in the second quarter valued at approximately $27,000. Manchester Capital Management LLC raised its holdings in shares of TELUS by 320.0% during the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $30,000 after acquiring an additional 1,712 shares during the period. Flagship Harbor Advisors LLC bought a new stake in TELUS in the 4th quarter valued at $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in TELUS by 129.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in TELUS by 35.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 759 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.