TELUS (NYSE:TU) Downgraded to "Neutral" Rating by Bank of America

TELUS (NYSE:TU - Get Free Report) TSE: T was downgraded by investment analysts at Bank of America from a "buy" rating to a "neutral" rating in a research report issued on Friday, MarketBeat reports.

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Morgan Stanley assumed coverage on TELUS in a research note on Monday, December 16th. They set an "equal weight" rating for the company. Finally, National Bank Financial lowered shares of TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.00.

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TELUS Trading Up 0.3 %

TU traded up $0.04 on Friday, hitting $13.97. The company had a trading volume of 1,408,161 shares, compared to its average volume of 3,732,531. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm has a market cap of $21.15 billion, a P/E ratio of 28.51, a PEG ratio of 5.18 and a beta of 0.72. The company's fifty day moving average price is $14.84 and its 200 day moving average price is $15.29. TELUS has a 1 year low of $13.24 and a 1 year high of $17.26.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. As a group, equities analysts expect that TELUS will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On TELUS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock valued at $26,000 after purchasing an additional 1,951 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after purchasing an additional 4,548 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $120,000. Blueshift Asset Management LLC purchased a new position in shares of TELUS during the 4th quarter worth approximately $142,000. Finally, Triasima Portfolio Management inc. purchased a new stake in shares of TELUS in the fourth quarter valued at $146,000. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.