TELUS (TU) Downgraded by Zacks Investment Research to “Sell”

TELUS (NYSE:TU) (TSE:T) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

According to Zacks, “TELUS continues to face fierce competition in both the wireless and wireline segments. In the wireless segment, it competes against Rogers Communications and Bell Canada and also faces threat from small regional carriers. Cable TV operators such as Shaw Communications poses threat on the wireline side. On the flip side, TELUS continues to benefit from massive wireless subscriber gain, increased penetration of smartphones, higher average revenue per unit, accelerating wireless data services and growing wireline fiber optic networks. Buyout of Voxpro will expand TELUS International's U.S. track. The company has consolidated its foothold in the Internet of Things (IoT) market and is focusing on its PureFibre network business. Over the past six months, shares of TELUS inched up 6.9% as against the industry's 2.3% loss. “

Other research analysts also recently issued reports about the stock. Morgan Stanley upped their price target on shares of TELUS from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Bank of America started coverage on shares of TELUS in a report on Tuesday, November 21st. They set a “neutral” rating and a $39.00 price target for the company. Royal Bank of Canada upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $47.00 to $51.00 in a report on Friday, November 10th. Scotiabank upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 25th. Finally, Barclays upped their price target on shares of TELUS from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. TELUS has an average rating of “Buy” and an average target price of $45.14.

Shares of TELUS (NYSE TU) traded down $0.15 during trading hours on Friday, hitting $37.53. 310,491 shares of the stock traded hands, compared to its average volume of 294,621. The firm has a market capitalization of $22,401.85, a P/E ratio of 23.17, a PEG ratio of 2.10 and a beta of 0.92. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.44. TELUS has a 52 week low of $31.28 and a 52 week high of $38.50.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). TELUS had a return on equity of 18.72% and a net margin of 9.61%. sell-side analysts expect that TELUS will post 2.03 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in TELUS by 237.7% in the second quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the Wireless communications provider’s stock valued at $130,000 after purchasing an additional 2,662 shares during the period. OLD National Bancorp IN acquired a new stake in TELUS in the third quarter valued at $208,000. Wells Fargo & Company MN increased its holdings in TELUS by 38.9% in the second quarter. Wells Fargo & Company MN now owns 6,544 shares of the Wireless communications provider’s stock valued at $226,000 after purchasing an additional 1,833 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in TELUS in the second quarter valued at $264,000. Finally, Capital Innovations LLC acquired a new stake in TELUS in the second quarter valued at $317,000. Institutional investors and hedge funds own 51.89% of the company’s stock.

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TELUS Company Profile

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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