TELUS (TSE:T) Hits New 52-Week Low Following Analyst Downgrade

TELUS Co. (TSE:T) (NYSE:TU)’s stock price reached a new 52-week low during trading on Thursday after Morgan Stanley lowered their price target on the stock from C$25.00 to C$20.00. The company traded as low as C$17.53 and last traded at C$17.82, with a volume of 2834484 shares. The stock had previously closed at C$18.30.

Other equities analysts have also recently issued research reports about the stock. Desjardins cut their price objective on shares of TELUS from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Natl Bk Canada raised TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. lowered TELUS from a “neutral” rating to an “underweight” rating and cut their price target for the stock from C$22.00 to C$19.00 in a report on Tuesday, November 18th. CIBC boosted their price objective on TELUS from C$24.00 to C$25.00 in a report on Friday, October 17th. Finally, Scotiabank upped their target price on TELUS from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$22.58.

TELUS Trading Down 2.3%

The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. The firm has a 50 day moving average price of C$20.14 and a 200 day moving average price of C$21.52. The stock has a market capitalization of C$27.66 billion, a PE ratio of 22.91, a P/E/G ratio of 1.65 and a beta of 0.90.

TELUS (TSE:T) (NYSE:TU) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. The business had revenue of C$5.07 billion during the quarter. TELUS had a return on equity of 5.80% and a net margin of 4.62%. Equities analysts expect that TELUS Co. will post 1.2267985 EPS for the current fiscal year.

About TELUS

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.