TELUS (TSE:T) Shares Down 1.6% - Here's Why

TELUS Co. (TSE:T - Get Free Report) NYSE: TU's share price dropped 1.6% during mid-day trading on Friday . The company traded as low as C$20.59 and last traded at C$20.64. Approximately 2,767,600 shares changed hands during trading, a decline of 33% from the average daily volume of 4,158,701 shares. The stock had previously closed at C$20.98.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Scotiabank lowered their price target on TELUS from C$23.25 to C$22.50 and set a "sector perform" rating for the company in a research note on Wednesday, January 8th. Barclays lowered their price target on TELUS from C$23.00 to C$20.00 in a research note on Thursday, January 30th. Royal Bank of Canada lowered their price target on TELUS from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. National Bankshares lowered their price target on TELUS from C$22.00 to C$21.00 and set a "sector perform" rating for the company in a research note on Friday, January 3rd. Finally, Bank of America cut TELUS from a "buy" rating to a "neutral" rating and lowered their price target for the company from C$24.00 to C$22.00 in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of C$22.91.

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TELUS Trading Down 4.7 %

The business has a 50 day moving average of C$21.29 and a 200-day moving average of C$21.50. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. The firm has a market capitalization of C$30.10 billion, a P/E ratio of 32.43, a PEG ratio of 1.65 and a beta of 0.72.

Insider Buying and Selling

In other TELUS news, Director Hazel Cynthia Claxton purchased 1,845 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of C$21.70 per share, with a total value of C$40,036.50. 0.02% of the stock is owned by company insiders.

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.