TELUS (NYSE:TU – Get Free Report) (TSE:T) was downgraded by equities research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.
Separately, StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of $26.20.
Check Out Our Latest Analysis on TU
TELUS Stock Performance
TELUS (NYSE:TU – Get Free Report) (TSE:T) last posted its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. TELUS had a net margin of 3.73% and a return on equity of 7.90%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company posted $0.14 earnings per share. On average, equities research analysts expect that TELUS will post 0.75 earnings per share for the current year.
Hedge Funds Weigh In On TELUS
Large investors have recently modified their holdings of the company. Hanson & Doremus Investment Management purchased a new position in shares of TELUS during the first quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of TELUS in the fourth quarter worth $33,000. Blue Trust Inc. increased its stake in shares of TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after buying an additional 954 shares during the period. Gulf International Bank UK Ltd boosted its holdings in TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock valued at $44,000 after acquiring an additional 784 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in TELUS in the first quarter valued at $58,000. 49.40% of the stock is currently owned by institutional investors.
TELUS Company Profile
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.
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