TELUS (NYSE:TU) Rating Lowered to Hold at TD Securities

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

Other research analysts also recently issued research reports about the stock. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 11th. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a report on Friday, March 27th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.63.

TELUS Stock Up 1.1%

NYSE:TU opened at $12.98 on Thursday. The stock has a 50-day simple moving average of $13.58 and a 200 day simple moving average of $13.96. TELUS has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a market cap of $20.09 billion, a PE ratio of 24.95, a PEG ratio of 1.92 and a beta of 0.68. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, sell-side analysts expect that TELUS will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of TELUS by 11.0% in the 3rd quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock valued at $117,922,000 after purchasing an additional 743,471 shares during the period. Summit Global Investments bought a new position in TELUS during the third quarter worth about $894,000. Harvest Portfolios Group Inc. increased its position in TELUS by 108.8% during the third quarter. Harvest Portfolios Group Inc. now owns 423,285 shares of the Wireless communications provider’s stock worth $6,667,000 after buying an additional 220,552 shares during the last quarter. Vanguard Group Inc. increased its position in TELUS by 4.6% during the third quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock worth $449,748,000 after buying an additional 1,255,029 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in TELUS by 1.5% in the third quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock valued at $580,740,000 after buying an additional 550,574 shares during the period. Institutional investors own 49.40% of the company’s stock.

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.