TELUS (TSE:T) Downgraded to “Underweight” Rating by Morgan Stanley

TELUS (TSE:T) (NYSE:TU) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$13.00 price target on the stock, down from their previous price target of C$20.00. Morgan Stanley’s target price suggests a potential downside of 8.77% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Scotiabank cut their price objective on TELUS from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. TD Securities raised shares of TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Desjardins decreased their price target on shares of TELUS from C$21.00 to C$19.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. TD raised TELUS from a “hold” rating to a “buy” rating and raised their price objective for the company from C$19.00 to C$20.00 in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada lowered their price target on shares of TELUS from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$18.86.

TELUS Trading Down 1.5%

TSE T traded down C$0.22 during mid-day trading on Tuesday, reaching C$14.25. 4,756,339 shares of the stock were exchanged, compared to its average volume of 7,475,953. The stock has a market cap of C$22.25 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.65 and a beta of 0.47. The company has a debt-to-equity ratio of 199.56, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a 50 day simple moving average of C$16.16 and a 200-day simple moving average of C$17.44. TELUS has a one year low of C$14.02 and a one year high of C$23.18.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.23 earnings per share for the quarter. TELUS had a net margin of 4.57% and a return on equity of 6.41%. The firm had revenue of C$4.99 billion during the quarter. On average, analysts anticipate that TELUS will post 1.2267985 EPS for the current year.

TELUS Company Profile

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.