TELUS (TSE:T) Trading Down 1.6% – Time to Sell?

Shares of TELUS Co. (TSE:T) (NYSE:TU) fell 1.6% on Friday . The company traded as low as C$20.59 and last traded at C$20.64. 2,767,600 shares changed hands during trading, a decline of 33% from the average session volume of 4,158,701 shares. The stock had previously closed at C$20.98.

Wall Street Analyst Weigh In

Several brokerages have issued reports on T. JPMorgan Chase & Co. dropped their target price on TELUS from C$23.00 to C$22.00 and set a “neutral” rating for the company in a research report on Thursday, January 2nd. CIBC dropped their price objective on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Barclays reduced their target price on TELUS from C$23.00 to C$20.00 in a research note on Thursday, January 30th. Royal Bank of Canada decreased their target price on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Cormark cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$22.91.

TELUS Price Performance

The firm has a 50-day simple moving average of C$21.29 and a 200-day simple moving average of C$21.50. The firm has a market cap of C$30.10 billion, a P/E ratio of 32.43, a PEG ratio of 1.65 and a beta of 0.72. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41.

Insider Activity at TELUS

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

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.