TELUS (TSE:T) Downgraded by JPMorgan Chase & Co. to “Underweight”

TELUS (TSE:T) (NYSE:TU) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They presently have a C$19.00 price target on the stock, down from their prior price target of C$22.00. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.11% from the stock’s current price.

A number of other brokerages also recently weighed in on T. CIBC raised their price objective on TELUS from C$24.00 to C$25.00 in a research note on Friday, October 17th. National Bankshares set a C$23.00 price objective on TELUS and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. Scotiabank upped their target price on shares of TELUS from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday, September 8th. BMO Capital Markets cut their price target on TELUS from C$24.00 to C$23.00 in a report on Monday, November 10th. Finally, Desjardins decreased their price target on shares of TELUS from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TELUS currently has a consensus rating of “Hold” and an average target price of C$22.95.

TELUS Stock Down 5.2%

Shares of T stock traded down C$1.04 during trading on Tuesday, hitting C$19.02. 12,964,176 shares of the company were exchanged, compared to its average volume of 4,192,397. The firm has a market capitalization of C$29.44 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.65 and a beta of 0.93. The company has a debt-to-equity ratio of 183.41, a quick ratio of 0.52 and a current ratio of 0.69. The business’s 50-day simple moving average is C$21.33 and its 200 day simple moving average is C$21.90. TELUS has a twelve month low of C$18.95 and a twelve month high of C$23.29.

TELUS (TSE:T) (NYSE:TU) last issued its earnings results on Friday, November 7th. The company reported C$0.32 EPS for the quarter. TELUS had a return on equity of 5.80% and a net margin of 4.62%.The firm had revenue of C$5.07 billion for the quarter. As a group, analysts forecast that TELUS will post 1.2267985 EPS for the current fiscal year.

About TELUS

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.