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.
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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