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

TELUS (TSE:T) (NYSE:TU) had its target price trimmed by Scotiabank from C$23.25 to C$22.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target 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. TD Securities lowered their target price on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. 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 note on Wednesday, December 18th. Cormark lowered their price objective on shares of TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. Finally, National Bank Financial downgraded TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$24.00.

TELUS Stock Performance

Shares of TSE T opened at C$19.99 on Wednesday. TELUS has a 12-month low of C$19.10 and a 12-month high of C$24.92. The company has a market cap of C$29.59 billion, a PE ratio of 37.72, a P/E/G ratio of 1.65 and a beta of 0.72. The stock 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 current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58.

TELUS Increases Dividend

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

Insider Buying and Selling

In other news, Director Victor George Dodig bought 100,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of C$21.38 per share, with a total value of C$2,138,000.00. Also, Director Marc Parent bought 19,100 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$22.04 per share, with a total value of C$420,964.00. 0.02% of the stock is currently owned by company 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.