Bank of America Reaffirms Underperform Rating for TELUS (NYSE:TU)

Key Points

• Bank of America reaffirmed its “underperform” rating on TELUS, while the broader analyst consensus remains “Reduce” with a $15.33 price target. Recent recommendations have been mixed, including downgrades to neutral, sell and hold.
• TELUS shares opened at $9.57, near their 52-week low of $9.22 and well below the 52-week high of $16.72. The stock has a $15.07 billion market capitalization and carries relatively high leverage, with a debt-to-equity ratio of 1.59.
• The company reported quarterly earnings of $0.12 per share, missing analyst expectations of $0.16, while revenue of $3.47 billion also fell short of the $3.55 billion estimate. TELUS posted a negative net margin of 4.51% for the quarter.

TELUS (NYSE:TU - Get Free Report) TSE: T's stock had its "underperform" rating reaffirmed by investment analysts at Bank of America in a note issued to investors on Tuesday, Marketbeat Ratings reports.

TU has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce downgraded TELUS from a "strong-buy" rating to a "neutral" rating in a research report on Friday. TD Cowen upgraded shares of TELUS from a "hold" rating to a "buy" rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of TELUS from a "hold" rating to a "sell" rating in a report on Saturday. Scotiabank reiterated a "sector perform" rating on shares of TELUS in a research report on Monday. Finally, Canaccord Genuity Group lowered shares of TELUS from a "buy" rating to a "hold" rating in a research report on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, TELUS currently has an average rating of "Reduce" and a consensus price target of $15.33.

TELUS Stock Up 0.2%

Shares of NYSE:TU opened at $9.57 on Tuesday. The firm has a market capitalization of $15.07 billion, a PE ratio of -23.35, a price-to-earnings-growth ratio of 7.42 and a beta of 0.64. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. TELUS has a 52-week low of $9.22 and a 52-week high of $16.72. The firm has a fifty day moving average of $11.13 and a 200 day moving average of $12.42.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 7.68%. The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. As a group, research analysts anticipate that TELUS will post 0.72 EPS for the current fiscal year.

Institutional Trading of TELUS

Several large investors have recently modified their holdings of TU. Manchester Capital Management LLC lifted its holdings in TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider's stock worth $30,000 after buying an additional 1,712 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of TELUS during the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of TELUS by 129.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider's stock valued at $33,000 after acquiring an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of TELUS during the fourth quarter valued at approximately $55,000. Finally, State of Wyoming purchased a new stake in TELUS in the second quarter worth $61,000. 49.40% of the stock is owned by institutional investors.

TELUS Company Profile

TELUS Corporation NYSE: TU is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.

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