TELUS (NYSE:TU) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

TELUS (NYSE:TU) (TSE:T) had its price target upped by equities research analysts at Canaccord Genuity Group from $20.25 to $21.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the Wireless communications provider’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 37.12% from the company’s current price.

TU has been the topic of a number of other research reports. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, TELUS presently has a consensus rating of “Hold” and a consensus target price of $21.50.

TELUS Stock Down 1.6%

TELUS stock opened at $15.68 on Monday. TELUS has a one year low of $13.24 and a one year high of $17.27. The stock has a fifty day moving average of $14.81 and a 200 day moving average of $14.82. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a market cap of $23.74 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73.

Institutional Trading of TELUS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after buying an additional 971 shares in the last quarter. NBC Securities Inc. raised its holdings in TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock valued at $64,000 after acquiring an additional 4,497 shares during the period. Avior Wealth Management LLC lifted its position in shares of TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after acquiring an additional 4,548 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of TELUS in the fourth quarter valued at about $120,000. Finally, Trust Co. of Vermont boosted its stake in shares of TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 800 shares during the period. 49.40% of the stock is owned by hedge funds and other 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.