JPMorgan Chase & Co. Reaffirms Underweight Rating for TELUS (NYSE:TU)

TELUS (NYSE:TU) (TSE:T)‘s stock had its “underweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $19.00 price objective on the Wireless communications provider’s stock, down from their previous price objective of $22.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 40.58% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Barclays dropped their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.17.

TELUS Stock Down 0.5%

TU stock opened at $13.52 on Tuesday. The business’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $15.82. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.47. TELUS has a twelve month low of $13.24 and a twelve month high of $16.74. The company has a market cap of $20.75 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 6.94 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, research analysts anticipate that TELUS will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On TELUS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of TELUS by 39.7% during the 1st quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider’s stock valued at $9,336,000 after acquiring an additional 185,020 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in TELUS by 18.9% in the first quarter. Envestnet Asset Management Inc. now owns 474,054 shares of the Wireless communications provider’s stock valued at $6,798,000 after buying an additional 75,452 shares during the period. Cerity Partners LLC boosted its holdings in TELUS by 33.1% during the first quarter. Cerity Partners LLC now owns 49,491 shares of the Wireless communications provider’s stock worth $710,000 after buying an additional 12,300 shares during the last quarter. Private Advisor Group LLC grew its position in shares of TELUS by 13.7% during the 1st quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock worth $189,000 after buying an additional 1,590 shares during the period. Finally, Ninepoint Partners LP grew its position in shares of TELUS by 3.4% during the 1st quarter. Ninepoint Partners LP now owns 198,927 shares of the Wireless communications provider’s stock worth $2,853,000 after buying an additional 6,575 shares during the period. 49.40% of the stock is owned by institutional investors.

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.