Analysts Set TELUS Co. (NYSE:TU) Price Target at $49.67

TELUS Co. (NYSE:TU) (TSE:T) has been given an average rating of “Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $49.67.

Several brokerages recently issued reports on TU. Echelon Wealth Partners reiterated a “buy” rating and set a $56.00 price target on shares of TELUS in a research report on Tuesday, November 12th. Scotiabank upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a research report on Friday, November 8th. Canaccord Genuity cut shares of TELUS from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, September 30th.

Shares of TU stock traded up $0.21 during mid-day trading on Thursday, reaching $38.17. The stock had a trading volume of 202,761 shares, compared to its average volume of 466,106. The stock’s 50-day moving average price is $36.06 and its two-hundred day moving average price is $36.51. TELUS has a 52-week low of $32.46 and a 52-week high of $38.32. The firm has a market capitalization of $22.81 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. 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 announced its quarterly earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. TELUS had a net margin of 11.91% and a return on equity of 16.54%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. TELUS’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that TELUS will post 2.2 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of TU. Executive Wealth Management LLC bought a new position in TELUS during the third quarter valued at approximately $28,000. Kempen Capital Management N.V. bought a new position in TELUS during the second quarter valued at approximately $45,000. Quadrant Capital Group LLC bought a new position in TELUS during the third quarter valued at approximately $45,000. Lindbrook Capital LLC bought a new position in TELUS during the second quarter valued at approximately $68,000. Finally, Neuburgh Advisers LLC lifted its position in TELUS by 13.2% during the second quarter. Neuburgh Advisers LLC now owns 3,152 shares of the Wireless communications provider’s stock valued at $112,000 after purchasing an additional 368 shares during the period. 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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Analyst Recommendations for TELUS (NYSE:TU)

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