TELUS (NYSE:TU) Receives Underperform Rating from Bank of America

TELUS (NYSE:TU) (TSE:T)‘s stock had its “underperform” rating reissued by equities researchers at Bank of America in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

A number of other research analysts have also recently commented on TU. Morgan Stanley cut TELUS to an “underweight” rating in a research note on Tuesday, July 21st. Barclays set a $11.00 price target on TELUS in a research note on Tuesday. Raymond James Financial began coverage on TELUS in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Royal Bank Of Canada downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $15.33.

TELUS Price Performance

TU stock opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. TELUS has a 1 year low of $9.22 and a 1 year high of $16.72. The firm has a 50-day moving average of $11.13 and a 200 day moving average of $12.42. The company has a market cap of $15.07 billion, a P/E ratio of -23.35, a PEG ratio of 7.42 and a beta of 0.64.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 7.68%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.55 billion. On average, sell-side analysts forecast that TELUS will post 0.72 EPS for the current year.

Hedge Funds Weigh In On TELUS

A number of institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TELUS by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock worth $11,181,000 after buying an additional 11,900 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after buying an additional 841 shares in the last quarter. Legal & General Group Plc grew its stake in shares of TELUS by 159.5% during the 2nd quarter. Legal & General Group Plc now owns 37,274 shares of the Wireless communications provider’s stock valued at $597,000 after acquiring an additional 22,912 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of TELUS by 67.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after acquiring an additional 3,510 shares during the period. Finally, Marshall Wace LLP purchased a new stake in TELUS in the 2nd quarter worth approximately $3,617,000. 49.40% of the stock is owned by institutional investors.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.