TELUS (NYSE:TU) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

TELUS (NYSE:TU) (TSE:T) had its price target increased by equities researchers at Canaccord Genuity Group from $20.25 to $21.50 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the Wireless communications provider’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 34.92% from the company’s current price.

Other analysts also recently issued reports about the stock. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.50.

TELUS Stock Down 0.3%

NYSE TU traded down $0.06 on Monday, reaching $15.94. The company had a trading volume of 2,810,961 shares, compared to its average volume of 2,894,345. TELUS has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The firm has a market capitalization of $24.13 billion, a PE ratio of 32.52, a P/E/G ratio of 5.18 and a beta of 0.73. The firm has a 50-day moving average of $14.80 and a 200-day moving average of $14.82.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts anticipate that TELUS will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS

A number of institutional investors have recently added to or reduced their stakes in TU. Farther Finance Advisors LLC lifted its stake in TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 971 shares during the period. NBC Securities Inc. grew its stake in shares of TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 4,497 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after buying an additional 4,548 shares during the period. Optiver Holding B.V. acquired a new position in TELUS during the 4th quarter valued at about $120,000. Finally, Trust Co. of Vermont boosted its stake in TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 800 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

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.