TELUS Corporation (NYSE:TU) Stock Rated “Reduce” by Sell-Side Brokerages

TELUS Corporation (NYSE:TU) (TSE:T) has been assigned an average recommendation of “Reduce” from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.00.

TU has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of TELUS in a research report on Thursday, October 8th. Wall Street Zen cut TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Desjardins downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Bank of America lowered TELUS from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. Finally, Barclays set a $10.00 price target on shares of TELUS and gave the stock an “equal weight” rating in a report on Tuesday, October 13th.

Institutional Trading of TELUS

Several large investors have recently made changes to their positions in TU. Bank of Nova Scotia purchased a new position in shares of TELUS in the second quarter valued at approximately $255,178,000. The Manufacturers Life Insurance Company purchased a new stake in shares of TELUS during the second quarter worth approximately $100,492,000. Bank of America Corp DE acquired a new position in TELUS in the 2nd quarter valued at $75,058,000. Jupiter Topco LLC acquired a new position in TELUS in the 2nd quarter valued at $68,500,000. Finally, Deutsche Bank AG purchased a new position in TELUS in the 2nd quarter valued at $14,065,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Trading Up 2.2%

NYSE TU opened at $8.86 on Monday. The company has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $11.34. The stock has a market cap of $14.08 billion, a P/E ratio of -21.61, a P/E/G ratio of 20.43 and a beta of 0.65. TELUS has a 12-month low of $7.64 and a 12-month high of $14.95. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88.

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

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.