TELUS (TSE:T) Stock Price Down 1.6% - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America cut TELUS from a "buy" rating to a "neutral" rating and cut their target price for the stock from C$24.00 to C$22.00 in a research report on Friday, March 21st. National Bankshares cut their price objective on TELUS from C$22.00 to C$21.00 and set a "sector perform" rating for the company in a research report on Friday, January 3rd. Scotiabank lowered their price target on TELUS from C$23.25 to C$22.50 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. TD Securities upped their price target on shares of TELUS from C$24.00 to C$25.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, National Bank Financial cut shares of TELUS from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, TELUS presently has an average rating of "Hold" and a consensus target price of C$22.91.

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TELUS Price Performance

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 business's fifty day moving average is C$21.29 and its 200 day moving average is C$21.48. The company has a market cap of C$30.38 billion, a P/E ratio of 32.74, a PEG ratio of 1.65 and a beta of 0.72.

Insider Transactions at TELUS

In related news, Director Hazel Cynthia Claxton purchased 1,845 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of C$21.70 per share, with a total value of C$40,036.50. Company insiders own 0.02% of the company's stock.

About TELUS

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.