TELUS (TSE:T) Lowered to "Hold" Rating by Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded TELUS from "buy" to "hold" and cut its price target to C$17.50 (from C$21.00), implying only about a 4.7% upside from current levels.
• Other brokers have also trimmed ratings and targets, leaving TELUS with a consensus "Hold" rating and a consensus target of C$20.45.
• TSE:T traded at C$16.71 (near its 12‑month low of C$16.60); recent quarter showed C$0.20 EPS on C$5.23 billion revenue and the company carries a high debt‑to‑equity ratio (~199%).

TELUS (TSE:T - Get Free Report) NYSE: TU was downgraded by stock analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports. They presently have a C$17.50 price objective on the stock, down from their prior price objective of C$21.00. Canaccord Genuity Group's price objective would suggest a potential upside of 4.73% from the company's current price.

A number of other brokerages have also recently commented on T. National Bank Financial reduced their price target on shares of TELUS from C$21.50 to C$21.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 30th. TD Securities cut shares of TELUS from a "buy" rating to a "hold" rating and reduced their price target for the company from C$21.00 to C$19.00 in a research report on Thursday, April 2nd. BMO Capital Markets cut shares of TELUS from an "outperform" rating to a "hold" rating and reduced their price target for the company from C$23.00 to C$19.00 in a research report on Thursday, December 11th. Scotiabank reduced their price target on shares of TELUS from C$22.50 to C$22.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets dropped their price objective on TELUS from C$20.00 to C$19.00 and set a "sector perform" rating for the company in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of C$20.45.

TELUS Price Performance

TSE T traded down C$0.76 on Thursday, reaching C$16.71. 10,515,750 shares of the company's stock traded hands, compared to its average volume of 7,284,349. TELUS has a 12 month low of C$16.60 and a 12 month high of C$23.18. The company has a debt-to-equity ratio of 199.42, a current ratio of 0.86 and a quick ratio of 0.52. The stock has a 50-day simple moving average of C$18.46 and a 200 day simple moving average of C$19.17. The stock has a market cap of C$26.09 billion, a PE ratio of 23.21, a P/E/G ratio of 1.65 and a beta of 0.56.

TELUS (TSE:T - Get Free Report) NYSE: TU last issued its quarterly earnings results on Thursday, February 12th. The company reported C$0.20 EPS for the quarter. TELUS had a net margin of 5.47% and a return on equity of 7.68%. The business had revenue of C$5.23 billion for the quarter. As a group, research analysts predict that TELUS will post 1.2267985 earnings per share for the current year.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.

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