TELUS (TSE:T) Lowered to “Neutral” Rating by Bank of America

TELUS (TSE:T) (NYSE:TU) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday,BayStreet.CA reports. They presently have a C$22.00 price objective on the stock, down from their previous price objective of C$24.00. Bank of America‘s price target would suggest a potential upside of 10.39% from the stock’s current price.

T has been the topic of a number of other reports. National Bank Financial downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays lowered their price objective on TELUS from C$23.00 to C$20.00 in a research report on Thursday, January 30th. Scotiabank decreased their price target on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. National Bankshares reduced 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. Finally, CIBC dropped their price target on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, TELUS presently has an average rating of “Hold” and a consensus price target of C$22.91.

TELUS Price Performance

T stock traded down C$1.05 during mid-day trading on Friday, reaching C$19.93. 8,683,240 shares of the company’s stock were exchanged, compared to its average volume of 4,263,371. The stock’s 50 day moving average is C$21.29 and its 200 day moving average is C$21.51. TELUS has a 12-month low of C$19.10 and a 12-month high of C$23.43. The company has a market cap of C$30.01 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52.

Insider Activity at TELUS

In related news, Director Hazel Cynthia Claxton bought 1,845 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost 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.

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.