TELUS (TSE:T) Shares Down 1.6% – Here’s Why

TELUS Co. (TSE:T) (NYSE:TU) shares traded down 1.6% on Friday . The company traded as low as C$20.59 and last traded at C$20.64. 2,767,600 shares traded hands 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 Analyst Weigh In

Several equities analysts have recently commented on the stock. National Bankshares lowered their target price on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their price target on TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a report on Thursday, January 2nd. Royal Bank of Canada reduced their price objective on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Scotiabank decreased their price target on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$23.00.

TELUS Price Performance

The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. The stock’s fifty day moving average is C$21.29 and its 200-day moving average is C$21.51. The stock has a market capitalization of C$30.49 billion, a PE ratio of 32.86, a P/E/G ratio of 1.65 and a beta of 0.72.

Insider Activity at TELUS

In other news, Director Hazel Cynthia Claxton bought 1,845 shares of TELUS stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of C$21.70 per share, with a total value of C$40,036.50. 0.02% of the stock is owned by corporate insiders.

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.