TELUS Corporation (NYSE:TU) Stock Has Average Target Price of $15.00 According to Analysts

Shares of TELUS Corporation (NYSE:TU) (TSE:T) have been assigned an average recommendation of “Reduce” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.00.

A number of research firms recently weighed in on TU. National Bank Financial lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of TELUS in a research report on Thursday, October 8th. TD Securities reiterated a “buy” rating on shares of TELUS in a research note on Monday, August 3rd. Scotiabank reissued a “sector perform” rating on shares of TELUS in a research report on Monday, August 3rd. Finally, Bank of America cut shares of TELUS from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th.

TELUS Price Performance

TU opened at $8.86 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of -21.61, a P/E/G ratio of 20.91 and a beta of 0.63. The firm’s fifty day moving average price is $8.79 and its two-hundred day moving average price is $11.34. TELUS has a 1 year low of $7.64 and a 1 year high of $14.95.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. As a group, analysts anticipate that TELUS will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of TELUS

A number of institutional investors and hedge funds have recently modified their holdings of TU. Bank of Nova Scotia bought a new position in TELUS in the 2nd quarter valued at $255,178,000. The Manufacturers Life Insurance Company increased its position in shares of TELUS by 21.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock valued at $309,159,000 after purchasing an additional 4,258,557 shares during the last quarter. First Trust Advisors LP increased its position in shares of TELUS by 5.2% during the 1st quarter. First Trust Advisors LP now owns 9,844,098 shares of the Wireless communications provider’s stock valued at $126,343,000 after purchasing an additional 486,043 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of TELUS during the 2nd quarter worth $75,058,000. Finally, Jupiter Topco LLC bought a new stake in shares of TELUS during the 2nd quarter worth $68,500,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

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.