TELUS (NYSE:TU) Stock Rating Reaffirmed by Echelon Wealth Partners

TELUS (NYSE:TU) (TSE:T)‘s stock had its “buy” rating restated by Echelon Wealth Partners in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. They currently have a $56.00 price target on the Wireless communications provider’s stock. Echelon Wealth Partners’ price target indicates a potential upside of 46.71% from the stock’s previous close.

A number of other research firms have also weighed in on TU. Canaccord Genuity lowered TELUS from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Monday, September 30th. Finally, Scotiabank upgraded TELUS from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $49.67.

Shares of NYSE TU traded up $0.21 during trading on Tuesday, reaching $38.17. 202,761 shares of the company traded hands, compared to its average volume of 463,871. The firm’s fifty day simple moving average is $36.06 and its 200 day simple moving average is $36.51. The stock has a market cap of $22.90 billion, a P/E ratio of 17.84, a PEG ratio of 2.71 and a beta of 0.67. TELUS has a 12-month low of $32.46 and a 12-month high of $38.32. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. TELUS had a return on equity of 16.54% and a net margin of 11.91%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, research analysts expect that TELUS will post 2.2 EPS for the current year.

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Several large investors have recently bought and sold shares of the company. TD Asset Management Inc. grew its position in shares of TELUS by 2.3% during the 2nd quarter. TD Asset Management Inc. now owns 24,307,989 shares of the Wireless communications provider’s stock valued at $900,511,000 after acquiring an additional 536,599 shares during the period. Beutel Goodman & Co Ltd. grew its position in shares of TELUS by 100.4% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 15,911,306 shares of the Wireless communications provider’s stock valued at $588,533,000 after acquiring an additional 7,969,596 shares during the period. CIBC Asset Management Inc grew its position in shares of TELUS by 0.9% during the 2nd quarter. CIBC Asset Management Inc now owns 13,223,462 shares of the Wireless communications provider’s stock valued at $488,820,000 after acquiring an additional 115,222 shares during the period. Great West Life Assurance Co. Can grew its position in shares of TELUS by 0.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 6,457,351 shares of the Wireless communications provider’s stock valued at $230,605,000 after acquiring an additional 29,565 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of TELUS by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,389,843 shares of the Wireless communications provider’s stock valued at $235,848,000 after acquiring an additional 176,047 shares during the period. Hedge funds and other institutional investors own 52.17% of the company’s stock.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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