TELUS (TSE:T) Rating Lowered to “Underweight” at Morgan Stanley

TELUS (TSE:T) (NYSE:TU) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$13.00 price objective on the stock, down from their prior price objective of C$20.00. Morgan Stanley’s price target would suggest a potential downside of 9.60% from the stock’s current price.

A number of other research analysts also recently commented on T. Raymond James Financial set a C$18.50 price target on shares of TELUS and gave the company a “market perform” rating in a report on Thursday, July 16th. Barclays dropped their price target on shares of TELUS from C$19.00 to C$17.00 in a research note on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on shares of TELUS from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. TD raised TELUS from a “hold” rating to a “buy” rating and upped their target price for the company from C$19.00 to C$20.00 in a research note on Tuesday, April 28th. Finally, TD Securities upgraded TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, TELUS currently has a consensus rating of “Hold” and an average price target of C$18.86.

TELUS Price Performance

Shares of TELUS stock opened at C$14.38 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 199.56. TELUS has a 12 month low of C$14.02 and a 12 month high of C$23.18. The stock has a 50 day moving average of C$16.05 and a 200 day moving average of C$17.39. The firm has a market cap of C$22.45 billion, a PE ratio of 23.97, a PEG ratio of 1.65 and a beta of 0.47.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Friday, May 8th. The company reported C$0.23 earnings per share (EPS) for the quarter. TELUS had a return on equity of 6.41% and a net margin of 4.57%.The business had revenue of C$4.99 billion for the quarter. On average, research analysts expect that TELUS will post 1.2267985 EPS for the current fiscal year.

About TELUS

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.