TELUS (TSE:T) Downgraded by Bank of America to Neutral

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

Several other equities analysts have also weighed in on T. 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 for the company in a research report on Wednesday, December 18th. TD Securities raised their price objective on TELUS from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. National Bankshares cut their target price on TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Friday, January 3rd. Scotiabank dropped 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. Finally, Cormark lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus target price of C$22.91.

TELUS Stock Performance

Shares of T traded down C$1.05 during mid-day trading on Friday, hitting C$19.93. The stock had a trading volume of 8,683,240 shares, compared to its average volume of 4,263,371. The company has a market cap of C$30.01 billion, a PE ratio of 32.34, a PEG ratio of 1.65 and a beta of 0.72. TELUS has a fifty-two week low of C$19.10 and a fifty-two week high of C$23.43. The company’s fifty day simple moving average is C$21.29 and its two-hundred day simple moving average is C$21.51. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41.

Insider Activity at TELUS

In related news, Director Hazel Cynthia Claxton purchased 1,845 shares of the stock in a transaction on Thursday, February 20th. The shares were bought at an average price of C$21.70 per share, for a total transaction of C$40,036.50. 0.02% of the stock is owned by company 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.