Canaccord Genuity Group Downgrades TELUS (NYSE:TU) to Hold

Key Points

• Canaccord Genuity downgraded TELUS (TU) from "Buy" to Hold, part of broader analyst trimming that leaves the consensus rating at Hold (4 Buy, 5 Hold, 1 Sell) with an average price target of $17.63.
• TELUS missed its latest quarter with EPS $0.15 vs. $0.18 expected and revenue of $3.83B vs. $3.85B expected; the stock opened at $12.65—near its 52‑week low of $12.50—with a market cap of about $19.6B and a P/E around 24.3.

TELUS (NYSE:TU - Get Free Report) TSE: T was downgraded by analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued on Thursday.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered TELUS from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 11th. Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, February 17th. TD Securities lowered TELUS from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Wall Street Zen cut TELUS from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Finally, Bank of America raised shares of TELUS from a "neutral" rating to a "buy" rating and raised their target price for the stock from $14.50 to $16.00 in a research note on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.63.

TELUS Stock Up 0.9%

TELUS stock opened at $12.65 on Thursday. The business's 50-day moving average price is $13.47 and its 200 day moving average price is $13.85. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The firm has a market cap of $19.58 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.92 and a beta of 0.68. TELUS has a 52 week low of $12.50 and a 52 week high of $16.74.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The company had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the prior year, the company posted $0.25 EPS. As a group, sell-side analysts anticipate that TELUS will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On TELUS

A number of hedge funds have recently modified their holdings of the business. Walter Public Investments Inc. raised its holdings in TELUS by 1.9% in the 3rd quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider's stock valued at $619,000 after buying an additional 750 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of TELUS by 7.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider's stock worth $181,000 after purchasing an additional 755 shares during the period. Farther Finance Advisors LLC increased its holdings in TELUS by 35.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider's stock valued at $46,000 after purchasing an additional 759 shares during the last quarter. Blue Trust Inc. raised its position in TELUS by 23.8% in the third quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider's stock valued at $63,000 after purchasing an additional 767 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider's stock valued at $739,000 after acquiring an additional 841 shares during the period. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

About TELUS

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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