TELUS (TSE:T) Downgraded to “Neutral” Rating by Bank of America

Bank of America downgraded shares of TELUS (TSE:T) (NYSE:TU) from a buy rating to a neutral rating in a research note released on Friday,BayStreet.CA reports. They currently have C$22.00 price target on the stock, down from their prior price target of C$24.00.

T has been the topic of several other research reports. TD Securities upped their price target on TELUS from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a research note on Thursday, January 2nd. CIBC decreased their price objective on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Cormark lowered TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Barclays reduced their price target on TELUS from C$23.00 to C$20.00 in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$22.91.

TELUS Trading Down 4.7 %

Shares of T opened at C$19.99 on Friday. The firm has a market capitalization of C$30.10 billion, a P/E ratio of 32.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. The stock’s fifty day simple moving average is C$21.29 and its 200 day simple moving average is C$21.50. TELUS has a twelve month low of C$19.10 and a twelve month high of C$23.43.

Insiders Place Their Bets

In related news, Director Hazel Cynthia Claxton acquired 1,845 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were acquired 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 owned by insiders.

TELUS Company Profile

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.