TELUS (NYSE:TU) Cut to “Sell” at StockNews.com

TELUS (NYSE:TU) (TSE:T) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

TU has been the topic of several other reports. Canaccord Genuity Group downgraded TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.00.

TELUS Trading Down 1.2 %

TU stock traded down $0.19 during midday trading on Thursday, reaching $15.32. 2,918,329 shares of the company’s stock traded hands, compared to its average volume of 2,308,105. TELUS has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The business has a 50-day moving average price of $16.11 and a two-hundred day moving average price of $16.08. The company has a market capitalization of $22.86 billion, a P/E ratio of 32.60, a PEG ratio of 2.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that TELUS will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS

A number of hedge funds have recently bought and sold shares of TU. National Bank of Canada FI grew its position in shares of TELUS by 24.2% in the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock worth $438,922,000 after acquiring an additional 5,094,269 shares in the last quarter. 1832 Asset Management L.P. boosted its position in TELUS by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after purchasing an additional 2,365,753 shares during the period. Fiera Capital Corp boosted its position in TELUS by 9.9% during the 2nd quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider’s stock valued at $252,468,000 after purchasing an additional 1,501,742 shares during the period. TD Asset Management Inc boosted its position in TELUS by 3.0% during the 2nd quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock valued at $631,310,000 after purchasing an additional 1,208,720 shares during the period. Finally, FMR LLC boosted its position in TELUS by 192.0% during the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock valued at $22,257,000 after purchasing an additional 872,235 shares during the period. Institutional investors and hedge funds own 49.40% 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.