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

TELUS (NYSE:TU) (TSE:T) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

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

TELUS Stock Performance

TELUS stock opened at $13.94 on Friday. The business has a 50 day moving average of $14.84 and a 200-day moving average of $15.30. TELUS has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The company has a market capitalization of $21.10 billion, a P/E ratio of 28.44, a P/E/G ratio of 5.18 and a beta of 0.72.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities research analysts predict that TELUS will post 0.71 earnings per share for the current year.

Institutional Trading of TELUS

Several large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System grew its position in shares of TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider’s stock worth $1,197,000 after buying an additional 1,346 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of TELUS by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock worth $1,297,000 after purchasing an additional 1,500 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of TELUS by 7.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider’s stock worth $294,000 after purchasing an additional 1,500 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in shares of TELUS by 9.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider’s stock worth $291,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Versant Capital Management Inc lifted 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 worth $26,000 after purchasing an additional 1,951 shares in the last quarter. 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.