TELUS (NYSE:TU) Earns Hold (C-) Rating from Weiss Ratings

TELUS (NYSE:TU) (TSE:T)‘s stock had its “hold (c-)” rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Thursday,Weiss Ratings reports.

Separately, Scotiabank reissued an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.50.

TELUS Trading Down 0.6%

Shares of TELUS stock opened at $14.65 on Thursday. TELUS has a 12-month low of $13.24 and a 12-month high of $16.74. The company has a market cap of $22.48 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 4.38 and a beta of 0.71. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $15.69 and its 200-day moving average price is $15.87.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts expect that TELUS will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of TELUS

Several institutional investors and hedge funds have recently made changes to their positions in TU. Goldman Sachs Group Inc. lifted its stake in TELUS by 196.2% during the first quarter. Goldman Sachs Group Inc. now owns 11,836,479 shares of the Wireless communications provider’s stock worth $169,735,000 after purchasing an additional 7,840,264 shares during the last quarter. Norges Bank bought a new stake in TELUS during the second quarter worth about $77,455,000. Arrowstreet Capital Limited Partnership lifted its stake in TELUS by 114.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,450,381 shares of the Wireless communications provider’s stock worth $103,624,000 after purchasing an additional 3,439,940 shares during the last quarter. Bessemer Group Inc. lifted its stake in TELUS by 1,981,964.7% during the second quarter. Bessemer Group Inc. now owns 3,428,972 shares of the Wireless communications provider’s stock worth $54,969,000 after purchasing an additional 3,428,799 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in TELUS in the second quarter worth approximately $51,091,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

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.