TELUS (TSE:T) Shares Down 1.6% – Here’s What Happened

Shares of TELUS Co. (TSE:T) (NYSE:TU) were down 1.6% during trading on Friday . The stock traded as low as C$20.59 and last traded at C$20.64. Approximately 2,767,600 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 4,158,701 shares. The stock had previously closed at C$20.98.

Analyst Ratings Changes

A number of brokerages have issued reports on T. Cormark lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. CIBC reduced their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. TD Securities upped their price objective on TELUS from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays decreased their price objective on TELUS from C$23.00 to C$20.00 in a research note on Thursday, January 30th. Finally, National Bank Financial lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, TELUS has an average rating of “Hold” and an average price target of C$23.00.

TELUS Stock Performance

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 company has a market cap of C$30.49 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The firm has a fifty day simple moving average of C$21.29 and a 200-day simple moving average of C$21.51.

Insider Buying and Selling

In other TELUS news, Director Hazel Cynthia Claxton purchased 1,845 shares of TELUS stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of C$21.70 per share, for a total transaction of C$40,036.50. 0.02% of the stock is currently owned by company insiders.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.