TD Securities Reiterates “Buy” Rating for TELUS (NYSE:TU)

TELUS (NYSE:TU) (TSE:T)‘s stock had its “buy” rating reaffirmed by equities researchers at TD Securities in a research note issued to investors on Friday, AnalystRatings.com reports. They presently have a $61.00 price target on the Wireless communications provider’s stock. TD Securities’ price target indicates a potential upside of 50.39% from the stock’s previous close.

A number of other research firms have also weighed in on TU. CIBC reissued a “hold” rating and set a $54.00 price objective on shares of TELUS in a research note on Friday. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday. Canaccord Genuity reissued a “hold” rating and set a $54.00 price objective on shares of TELUS in a research note on Friday. Scotiabank raised TELUS from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets reissued a “hold” rating and set a $56.00 price objective on shares of TELUS in a research note on Friday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.43.

NYSE TU traded down $0.56 on Friday, reaching $40.56. 816,063 shares of the company’s stock traded hands, compared to its average volume of 462,809. TELUS has a 12 month low of $34.96 and a 12 month high of $41.81. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.80 and a quick ratio of 0.73. The stock has a 50-day simple moving average of $39.53 and a 200 day simple moving average of $37.36. The stock has a market cap of $25.00 billion, a PE ratio of 18.44, a P/E/G ratio of 2.67 and a beta of 0.65.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.15. The firm had revenue of $3.86 billion during 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%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, analysts anticipate that TELUS will post 2.19 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc. lifted its stake in TELUS by 0.6% in the fourth quarter. TD Asset Management Inc. now owns 21,984,644 shares of the Wireless communications provider’s stock worth $852,386,000 after acquiring an additional 137,364 shares during the period. Beutel Goodman & Co Ltd. lifted its stake in TELUS by 7.0% in the third quarter. Beutel Goodman & Co Ltd. now owns 8,527,170 shares of the Wireless communications provider’s stock worth $13,658,000 after acquiring an additional 557,574 shares during the period. Great West Life Assurance Co. Can lifted 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 worth $230,605,000 after acquiring an additional 29,565 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in TELUS by 2.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,955,088 shares of the Wireless communications provider’s stock worth $212,120,000 after acquiring an additional 121,028 shares during the period. Finally, Toronto Dominion Bank lifted its stake in TELUS by 80.3% in the fourth quarter. Toronto Dominion Bank now owns 5,945,257 shares of the Wireless communications provider’s stock worth $249,334,000 after acquiring an additional 2,647,801 shares during the period. 49.34% of the stock is owned by institutional investors.

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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