TELUS (TSE:T) Raised to “Buy” at Canaccord Genuity Group

TELUS (TSE:T) (NYSE:TU) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Thursday,BayStreet.CA reports.

A number of other equities analysts have also commented on the stock. CIBC boosted their price target on shares of TELUS from C$24.00 to C$25.00 in a research report on Friday, October 17th. National Bankshares raised TELUS from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from C$23.00 to C$21.00 in a report on Wednesday, November 19th. Desjardins decreased their price target on TELUS from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Natl Bk Canada raised TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Finally, Scotiabank boosted their price objective on TELUS from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$22.82.

TELUS Price Performance

TSE:T traded up C$0.19 during trading hours on Thursday, reaching C$18.74. The company had a trading volume of 4,720,482 shares, compared to its average volume of 4,459,491. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. The stock has a 50-day moving average of C$20.48 and a two-hundred day moving average of C$21.65. TELUS has a one year low of C$17.92 and a one year high of C$23.29. The firm has a market capitalization of C$29.01 billion, a PE ratio of 24.03, a PEG ratio of 1.65 and a beta of 0.93.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. TELUS had a return on equity of 5.80% and a net margin of 4.62%.The company had revenue of C$5.07 billion during the quarter. Analysts forecast that TELUS will post 1.2267985 earnings per share for the current year.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.