TELUS (NYSE:TU) Stock Rating Reaffirmed by Echelon Wealth Partners

Echelon Wealth Partners reiterated their buy rating on shares of TELUS (NYSE:TU) (TSE:T) in a report released on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $56.00 target price on the Wireless communications provider’s stock.

A number of other analysts have also commented on the company. Bank of America raised TELUS from a neutral rating to a buy rating and set a $52.00 price target for the company in a research note on Monday, September 30th. Canaccord Genuity lowered TELUS from a buy rating to a hold rating in a research note on Monday, July 22nd. Finally, Scotiabank raised TELUS from a sector perform rating to an outperform rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $49.67.

Shares of NYSE:TU traded up $0.21 during trading on Tuesday, reaching $38.17. 202,761 shares of the company traded hands, compared to its average volume of 463,871. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.71 and a beta of 0.67. TELUS has a 52-week low of $32.46 and a 52-week high of $38.32. The company has a current ratio of 0.80, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The business’s fifty day moving average is $36.06 and its 200-day moving average is $36.51.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. TELUS had a return on equity of 16.54% and a net margin of 11.91%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, sell-side analysts predict that TELUS will post 2.2 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in TELUS by 8.6% in the second quarter. Wells Fargo & Company MN now owns 3,956 shares of the Wireless communications provider’s stock worth $146,000 after acquiring an additional 313 shares during the period. Neuburgh Advisers LLC raised its holdings in TELUS by 13.2% in the second quarter. Neuburgh Advisers LLC now owns 3,152 shares of the Wireless communications provider’s stock worth $112,000 after purchasing an additional 368 shares in the last quarter. Raymond James Trust N.A. raised its holdings in TELUS by 4.5% in the second quarter. Raymond James Trust N.A. now owns 9,131 shares of the Wireless communications provider’s stock worth $337,000 after purchasing an additional 396 shares in the last quarter. Glen Harbor Capital Management LLC raised its holdings in TELUS by 13.2% in the second quarter. Glen Harbor Capital Management LLC now owns 4,334 shares of the Wireless communications provider’s stock worth $154,000 after purchasing an additional 506 shares in the last quarter. Finally, Addenda Capital Inc. raised its holdings in TELUS by 1.3% in the second quarter. Addenda Capital Inc. now owns 42,080 shares of the Wireless communications provider’s stock worth $1,577,000 after purchasing an additional 540 shares in the last quarter. 52.17% of the stock is owned by institutional investors.

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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