Scotiabank Reiterates Sector Perform Rating for TELUS (NYSE:TU)

TELUS (NYSE:TU) (TSE:T)‘s stock had its “sector perform” rating reiterated by research analysts at Scotiabank in a research report issued on Monday, Marketbeat reports. They presently have a $26.00 price target on the Wireless communications provider’s stock, down from their prior price target of $28.00. Scotiabank’s price objective suggests a potential upside of 65.61% from the stock’s current price.

A number of other equities research analysts have also recently commented on TU. BMO Capital Markets decreased their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. cut TELUS from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.72.

TELUS Stock Performance

Shares of NYSE:TU opened at $15.70 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.35. TELUS has a 1-year low of $15.47 and a 1-year high of $21.34. The stock has a market capitalization of $23.17 billion, a P/E ratio of 36.51, a P/E/G ratio of 3.58 and a beta of 0.73. The business has a 50-day moving average price of $17.50 and a two-hundred day moving average price of $17.38.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. TELUS had a net margin of 4.18% and a return on equity of 7.81%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. TELUS’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts predict that TELUS will post 0.78 earnings per share for the current year.

Institutional Trading of TELUS

A number of large investors have recently bought and sold shares of TU. VisionPoint Advisory Group LLC increased its stake in TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in TELUS during the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new stake in TELUS during the 4th quarter worth approximately $49,000. CWM LLC increased its stake in TELUS by 104.3% during the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock worth $69,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in TELUS by 18.1% during the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 717 shares in the last quarter. 49.40% of the stock is owned by institutional investors.

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.