TELUS (NYSE:TU) Earns Equal Weight Rating from Analysts at Morgan Stanley

Stock analysts at Morgan Stanley initiated coverage on shares of TELUS (NYSE:TU) (TSE:T) in a note issued to investors on Monday. The firm set an “equal weight” rating on the Wireless communications provider’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Price Performance

Shares of NYSE TU opened at $14.05 on Monday. The company has a market capitalization of $21.08 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.10 and a beta of 0.73. TELUS has a 1-year low of $14.00 and a 1-year high of $18.55. The business has a 50-day moving average of $15.62 and a 200-day moving average of $15.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. TELUS’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, equities analysts anticipate that TELUS will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On TELUS

Large investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of TELUS during the 3rd quarter valued at $320,000. Geode Capital Management LLC raised its stake in shares of TELUS by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider’s stock valued at $40,238,000 after acquiring an additional 177,953 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in shares of TELUS by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock worth $44,785,000 after buying an additional 317,000 shares during the last quarter. Barclays PLC boosted its holdings in TELUS by 38.5% during the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider’s stock valued at $7,839,000 after acquiring an additional 129,934 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in TELUS in the 3rd quarter valued at approximately $1,509,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.