JPMorgan Chase & Co. Trims TELUS (TSE:T) Target Price to C$23.00

TELUS (TSE:T) (NYSE:TU) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from C$24.00 to C$23.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.63% from the stock’s previous close.

Several other equities analysts also recently issued reports on T. Royal Bank of Canada dropped their price target on shares of TELUS from C$29.00 to C$26.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 10th. Canaccord Genuity Group dropped their price target on shares of TELUS from C$25.00 to C$23.00 and set a “buy” rating for the company in a research note on Tuesday. National Bankshares dropped their price target on shares of TELUS from C$25.00 to C$23.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. Cormark dropped their price target on shares of TELUS from C$27.00 to C$26.00 in a research note on Wednesday, May 15th. Finally, TD Securities raised their price target on shares of TELUS from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$24.94.

TELUS Price Performance

Shares of TSE:T opened at C$20.98 on Wednesday. The company has a market cap of C$31.05 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.07 and a beta of 0.67. The company has a debt-to-equity ratio of 159.88, a current ratio of 0.67 and a quick ratio of 0.52. The firm has a 50 day simple moving average of C$21.85 and a 200 day simple moving average of C$22.70. TELUS has a one year low of C$20.04 and a one year high of C$25.94.

TELUS (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.26 EPS for the quarter, beating the consensus estimate of C$0.24 by C$0.02. The business had revenue of C$4.93 billion during the quarter, compared to the consensus estimate of C$5.06 billion. TELUS had a net margin of 4.20% and a return on equity of 4.96%. Research analysts predict that TELUS will post 1.0009001 earnings per share for the current fiscal year.

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.