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

TELUS (TSE:T) (NYSE:TU) had its price target cut by Scotiabank from C$24.00 to C$23.25 in a report released on Tuesday,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the company. CIBC lowered their price objective on 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 upped their price objective on TELUS from C$24.00 to C$25.00 in a report on Thursday, September 5th. Canaccord Genuity Group cut TELUS from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$23.00 to C$21.50 in a research report on Tuesday, August 6th. Cormark decreased their target price on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday, November 11th. Finally, TD Securities cut their price target on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$24.40.

TELUS Stock Down 1.0 %

Shares of TSE:T opened at C$21.42 on Tuesday. TELUS has a fifty-two week low of C$20.04 and a fifty-two week high of C$25.94. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58. The firm’s 50-day simple moving average is C$22.12 and its 200-day simple moving average is C$22.02. The company has a market cap of C$31.70 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.65 and a beta of 0.72.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.402 per share. This is an increase from TELUS’s previous quarterly dividend of $0.39. This represents a $1.61 annualized dividend and a yield of 7.51%. The ex-dividend date is Wednesday, December 11th. TELUS’s dividend payout ratio (DPR) is 294.34%.

Insiders Place Their Bets

In related news, Director Victor George Dodig acquired 100,000 shares of TELUS stock in a transaction dated Thursday, November 14th. The shares were acquired 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 company insiders.

TELUS Company Profile

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.