TELUS (TSE:T) Sets New 52-Week Low on Analyst Downgrade

TELUS Co. (TSE:T) (NYSE:TU)’s share price hit a new 52-week low during mid-day trading on Tuesday after Morgan Stanley downgraded the stock from an equal weight rating to an underweight rating. Morgan Stanley now has a C$13.00 price target on the stock, down from their previous price target of C$20.00. TELUS traded as low as C$14.02 and last traded at C$14.05, with a volume of 1509860 shares traded. The stock had previously closed at C$14.47.

A number of other equities analysts have also recently weighed in on T. Canaccord Genuity Group cut their price target on TELUS from C$16.75 to C$15.50 and set a “hold” rating for the company in a report on Friday, July 10th. Scotiabank dropped their price objective on TELUS from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Royal Bank Of Canada cut their target price 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 upgraded shares of 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 report on Tuesday, April 28th. Finally, Barclays decreased their price target on shares of TELUS from C$19.00 to C$17.00 in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, TELUS presently has a consensus rating of “Hold” and a consensus target price of C$18.86.

TELUS Price Performance

The stock has a market capitalization of C$22.45 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.65 and a beta of 0.47. The company has a 50 day moving average of C$16.05 and a 200 day moving average of C$17.39. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 199.56.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.23 EPS for the quarter. The company had revenue of C$4.99 billion during the quarter. TELUS had a return on equity of 6.41% and a net margin of 4.57%. As a group, equities research analysts forecast that TELUS Co. 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.