TELUS (TSE:T) Price Target Lowered to C$22.50 at Scotiabank

TELUS (TSE:T) (NYSE:TU) had its price objective reduced by Scotiabank from C$23.25 to C$22.50 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently commented on T. JPMorgan Chase & Co. reduced their target price on TELUS from C$23.00 to C$22.00 and set a “neutral” rating for the company in a report on Thursday, January 2nd. Cormark lowered their target price on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday, November 11th. Royal Bank of Canada reduced their price target on shares of 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. National Bank Financial cut TELUS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Barclays reduced their price objective on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$24.00.

TELUS Price Performance

Shares of T opened at C$19.99 on Wednesday. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66. TELUS has a fifty-two week low of C$19.10 and a fifty-two week high of C$24.92. The firm has a 50-day simple moving average of C$20.99 and a 200-day simple moving average of C$21.65. The company has a market capitalization of C$29.59 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.402 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.39. TELUS’s dividend payout ratio is currently 294.34%.

Insider Activity at TELUS

In related news, Director Victor George Dodig purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. Also, Director Marc Parent acquired 19,100 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$22.04 per share, with a total value of C$420,964.00. Company insiders own 0.02% of the company’s stock.

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.