TELUS Corporation (TU) Rating Lowered to Sell at Zacks Investment Research

TELUS Corporation (NYSE:TU) (TSE:T) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday, October 16th.

According to Zacks, “TELUS faces fierce competition in both the wireless and wireline segments. At the wireless segment, it competes against Rogers Communications and Bell Canada and also faces threat from small regional carriers. Cable TV operators such as Shaw Communications pose threat on the wireline side. On the flip side, Buyout of Voxpro will expand TELUS International's U.S. track. Moreover, TELUS continues to benefit from increased penetration of smartphones, higher average revenue per unit, accelerating wireless data services and growing wireline fiber optic networks. The company has consolidated its foothold in the Internet of Things (IoT) market and is focusing on its PureFibre network business. Over the past three months, shares of TELUS inched up 2.2% beating the industry's growth of 0.1%.”

TU has been the subject of several other reports. BidaskClub lowered shares of TELUS Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Barclays PLC raised their price objective on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. Finally, BMO Capital Markets lifted their target price on shares of TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. TELUS Corporation presently has a consensus rating of “Buy” and an average price target of $43.50.

TELUS Corporation (NYSE:TU) opened at 36.63 on Monday. The firm’s 50-day moving average price is $36.04 and its 200 day moving average price is $34.91. TELUS Corporation has a one year low of $30.31 and a one year high of $37.26. The firm has a market capitalization of $21.76 billion, a P/E ratio of 21.31 and a beta of 0.89.

TELUS Corporation (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. On average, equities analysts anticipate that TELUS Corporation will post $2.15 earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of TU. Crossmark Global Holdings Inc. purchased a new position in shares of TELUS Corporation during the 3rd quarter valued at $8,287,000. Baskin Financial Services Inc. lifted its stake in shares of TELUS Corporation by 2.5% during the 3rd quarter. Baskin Financial Services Inc. now owns 270,029 shares of the Wireless communications provider’s stock valued at $9,687,000 after buying an additional 6,485 shares in the last quarter. Highstreet Asset Management Inc. lifted its stake in shares of TELUS Corporation by 6.4% during the 3rd quarter. Highstreet Asset Management Inc. now owns 769,671 shares of the Wireless communications provider’s stock valued at $27,684,000 after buying an additional 46,012 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new position in shares of TELUS Corporation during the 3rd quarter valued at $55,184,000. Finally, APG Asset Management N.V. lifted its stake in shares of TELUS Corporation by 18.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,555,573 shares of the Wireless communications provider’s stock valued at $91,709,000 after buying an additional 395,600 shares in the last quarter. 50.56% of the stock is owned by institutional investors and hedge funds.

About TELUS Corporation

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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