TELUS (TSE:T) Rating Lowered to “Neutral” at 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 issued to investors on Friday morning,BayStreet.CA reports. The firm currently has C$22.00 price target on the stock, down from their previous price target of C$24.00.

A number of other research firms also recently weighed in on T. National Bank Financial downgraded TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Scotiabank cut their price objective on shares of TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. TD Securities boosted their target price on shares of TELUS from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, National Bankshares decreased their price objective on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of C$22.91.

TELUS Trading Down 4.7 %

TSE T opened at C$19.99 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. TELUS has a 1-year low of C$19.10 and a 1-year high of C$23.43. The firm’s fifty day simple moving average is C$21.29 and its 200-day simple moving average is C$21.50. The company has a market capitalization of C$30.10 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72.

Insider Buying and Selling

In related news, Director Hazel Cynthia Claxton purchased 1,845 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost 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.