TELUS (NYSE:TU) Given “Hold” Rating at CIBC

TELUS (NYSE:TU) (TSE:T)‘s stock had its “hold” rating reiterated by research analysts at CIBC in a research note issued on Friday, AnalystRatings.com reports. They presently have a $54.00 target price on the Wireless communications provider’s stock. CIBC’s price objective suggests a potential upside of 33.81% from the company’s current price.

A number of other brokerages have also issued reports on TU. Scotiabank raised TELUS from a “sector perform” rating to an “outperform” rating in a research report on Friday, November 8th. Echelon Wealth Partners reaffirmed a “buy” rating and set a $56.00 target price on shares of TELUS in a research report on Tuesday, November 12th. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $54.00 target price on shares of TELUS in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.40.

Shares of TELUS stock traded down $0.77 on Friday, reaching $40.36. 320,782 shares of the company were exchanged, compared to its average volume of 451,035. The stock has a fifty day moving average price of $39.53 and a 200-day moving average price of $37.36. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.65. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. TELUS has a fifty-two week low of $34.96 and a fifty-two week high of $41.81.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.15. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 16.54% and a net margin of 11.91%. TELUS’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts anticipate that TELUS will post 2.19 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Pictet Asset Management Ltd. grew its holdings in shares of TELUS by 2.7% during the third quarter. Pictet Asset Management Ltd. now owns 106,449 shares of the Wireless communications provider’s stock valued at $3,791,000 after buying an additional 2,800 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in TELUS by 0.5% in the third quarter. Great West Life Assurance Co. Can now owns 6,457,351 shares of the Wireless communications provider’s stock valued at $230,605,000 after purchasing an additional 29,565 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new position in TELUS in the fourth quarter valued at about $223,000. Vestmark Advisory Solutions Inc. grew its stake in TELUS by 32.6% in the third quarter. Vestmark Advisory Solutions Inc. now owns 11,275 shares of the Wireless communications provider’s stock valued at $402,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Nexus Investment Management Inc. grew its stake in TELUS by 4.4% in the fourth quarter. Nexus Investment Management Inc. now owns 715,710 shares of the Wireless communications provider’s stock valued at $27,752,000 after purchasing an additional 30,150 shares in the last quarter. Institutional investors and hedge funds own 49.34% of the company’s stock.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Analyst Recommendations for TELUS (NYSE:TU)

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