TELUS (TSE:T) Cut to Neutral at Bank of America

Bank of America downgraded shares of TELUS (TSE:T) (NYSE:TU) from a buy rating to a neutral rating in a research report sent to investors on Friday,BayStreet.CA reports. The firm currently has C$22.00 price objective on the stock, down from their previous price objective of C$24.00.

T has been the subject of several other reports. Barclays reduced their price objective on TELUS from C$23.00 to C$20.00 in a research note on Thursday, January 30th. National Bank Financial lowered TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Scotiabank dropped their target price on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. CIBC reduced their price objective on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Finally, National Bankshares dropped their price objective on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$22.91.

TELUS Price Performance

TSE:T opened at C$19.99 on Friday. The company has a market cap of C$30.10 billion, a P/E ratio of 32.43, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52. TELUS has a one year low of C$19.10 and a one year high of C$23.43. The firm’s fifty day moving average price is C$21.29 and its two-hundred day moving average price is C$21.50.

Insiders Place Their Bets

In other TELUS news, Director Hazel Cynthia Claxton bought 1,845 shares of TELUS stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of C$21.70 per share, with a total value of C$40,036.50. 0.02% of the stock is currently owned by insiders.

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.