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 report issued on Friday, Marketbeat reports.

Several other analysts have also issued reports on the stock. National Bank Financial lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Morgan Stanley started coverage on TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating for the company. Finally, StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.00.

TELUS Trading Down 1.8 %

Shares of NYSE:TU opened at $14.66 on Friday. TELUS has a 52-week low of $13.24 and a 52-week high of $17.27. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The company has a market cap of $22.19 billion, a P/E ratio of 29.91, a P/E/G ratio of 5.18 and a beta of 0.72. The stock’s 50-day moving average is $14.83 and its 200-day moving average is $15.32.

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

Institutional Trading of TELUS

Several institutional investors have recently bought and sold shares of TU. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of TELUS during the fourth quarter valued at $1,742,000. Mackenzie Financial Corp lifted its holdings in TELUS by 22.6% during the 4th quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider’s stock valued at $667,840,000 after purchasing an additional 9,068,181 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in TELUS by 26.1% in the fourth quarter. Burgundy Asset Management Ltd. now owns 198,708 shares of the Wireless communications provider’s stock valued at $2,692,000 after buying an additional 41,119 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in TELUS by 120.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,056,749 shares of the Wireless communications provider’s stock worth $14,310,000 after buying an additional 576,964 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in TELUS during the fourth quarter worth about $942,000. 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.