TELUS (TSE:T) Cut to “Underweight” at Morgan Stanley

Morgan Stanley downgraded shares of TELUS (TSE:T) (NYSE:TU) from an equal weight rating to an underweight rating in a research note released on Tuesday morning,BayStreet.CA reports. The firm currently has C$13.00 target price on the stock, down from their prior target price of C$20.00.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial set a C$18.50 price target on shares of TELUS and gave the stock a “market perform” rating in a report on Thursday, July 16th. Royal Bank Of Canada dropped their price objective on TELUS from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. TD Securities upgraded TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Canaccord Genuity Group decreased their target price on TELUS from C$16.75 to C$15.50 and set a “hold” rating on the stock in a research note on Friday, July 10th. Finally, Desjardins lowered their price target on TELUS from C$21.00 to C$19.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$18.86.

TELUS Price Performance

T stock opened at C$14.23 on Tuesday. The firm has a 50 day moving average of C$15.99 and a 200-day moving average of C$17.36. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 199.56. TELUS has a 12 month low of C$14.02 and a 12 month high of C$23.18. The firm has a market capitalization of C$22.22 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.65 and a beta of 0.47.

TELUS (TSE:T) (NYSE:TU) last posted its earnings results on Friday, May 8th. The company reported C$0.23 earnings per share for the quarter. TELUS had a net margin of 4.57% and a return on equity of 6.41%. The business had revenue of C$4.99 billion for the quarter. As a group, sell-side analysts predict that TELUS will post 1.2267985 earnings per share for the current fiscal year.

About TELUS

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.