Scotiabank Cuts TELUS (TSE:T) Price Target to C$23.25

TELUS (TSE:T) (NYSE:TU) had its target price trimmed by Scotiabank from C$24.00 to C$23.25 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other equities analysts have also weighed in on T. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$23.00 to C$21.50 in a research report on Tuesday, August 6th. CIBC reduced their price objective on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. BMO Capital Markets increased their price objective on shares of TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. Barclays lowered their target price on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. Finally, TD Securities reduced 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 report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.40.

TELUS Trading Up 0.3 %

TSE T opened at C$21.79 on Tuesday. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. TELUS has a 1 year low of C$20.04 and a 1 year high of C$25.94. The company has a fifty day moving average of C$22.07 and a 200 day moving average of C$22.01. The company has a market capitalization of C$32.25 billion, a PE ratio of 41.11, a P/E/G ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a $0.402 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.61 annualized dividend and a dividend yield of 7.38%. This is a boost from TELUS’s previous quarterly dividend of $0.39. TELUS’s payout ratio is currently 294.34%.

Insider Transactions at TELUS

In other news, Director Victor George Dodig purchased 100,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of C$21.38 per share, for a total transaction of C$2,138,000.00. 0.02% of the stock is currently owned by 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.