Wall Street Zen Downgrades TELUS (NYSE:TU) to Sell

by · The Markets Daily

TELUS (NYSE:TU – Get Free Report) (TSE:T) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities research analysts also recently weighed in on TU. Citigroup raised shares of TELUS to a “buy” rating in a research report on Thursday, December 4th. TD Securities reiterated a “buy” rating on shares of TELUS in a research note on Friday, February 13th. Canaccord Genuity Group raised TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. Finally, BMO Capital Markets downgraded TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.17.

Read Our Latest Report on TU

TELUS Price Performance

TU stock opened at $13.59 on Friday. The stock’s 50 day moving average is $13.44 and its two-hundred day moving average is $14.53. TELUS has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a market capitalization of $21.03 billion, a PE ratio of 26.13, a P/E/G ratio of 1.60 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65.

TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same period in the previous year, the business posted $0.25 EPS. Analysts predict that TELUS will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently added to or reduced their stakes in TU. Walter Public Investments Inc. grew its position in shares of TELUS by 1.9% during the third quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock worth $619,000 after acquiring an additional 750 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in TELUS by 7.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 755 shares during the period. Farther Finance Advisors LLC grew its position 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 last quarter. Blue Trust Inc. increased its stake in shares of TELUS by 23.8% in the third quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock valued at $63,000 after purchasing an additional 767 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of TELUS by 1.9% during the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after buying an additional 841 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors.

About TELUS

(Get Free Report)

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.

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