TELUS (NYSE:TU – Get Free Report) (TSE:T) was upgraded from a “sell” rating to a “hold” rating by equities researchers at StockNews.com in a research report issued on Wednesday.

Separately, Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6. Four equities analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.33.

Read our latest stock report on TU

TELUS Stock Return

Shares of NYSE TU opened at $15.84 on Wednesday. TELUS has a 12-month low of $14.63 and a 12-month high of $19.14. The company has a market cap of $23.37 billion, a PE ratio of 40.60, a P/E/G ratio of 2.44 and a beta of 0.73. The stock has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $16.31. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its quarterly earnings results on Friday, August 2. The wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter a year ago, the company posted earnings per share of $0.14. On average, equities research analysts predict that TELUS will post 0.73 EPS for the current year.

Institutional Trading of TELUS

Several institutional investors and hedge funds have recently added to or reduced their stakes in TU. Ontario Teachers Pension Plan Board purchased a new stake in shares of TELUS during the fourth quarter worth $1,100,000. Canada Pension Plan Investment Board increased its stake in TELUS by 11.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock worth $20,050,000 after purchasing an additional 126,488 shares during the period. Vanguard Group Inc. increased its stake in TELUS by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock worth $406,217,000 after purchasing an additional 1,044,988 shares in the last quarter. Van ECK Associates Corp purchased a new stake in TELUS during the first quarter worth approximately $1,991,000. Finally, Virtu Financial LLC acquired a new position in shares of TELUS during the fourth quarter worth approximately $376,000. 49.40% of the shares are held by institutional investors and hedge funds.

About TELUS

(Get free report)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through the Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment provides a range of telecommunications products and services; network services; healthcare services; mobile technology devices; 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; security for the home and workplace; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

Recommended Articles

Get news and reviews for TELUS Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings on TELUS and related companies with MarketBeat.com’s FREE daily email newsletter.