Scotiabank upgraded shares of TELUS (TSE:T – Free Report) (NYSE:TU) from a sector perform rating to an outperform rating in a research note released on Monday, Marketbeat.com reports.
A number of other analysts have also weighed in on the stock. BMO Capital Markets raised their target price on shares of TELUS from C$24.00 to C$25.00 in a research report on Thursday, September 5th. CIBC cut their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their target price on shares of TELUS from C$24.00 to C$23.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating and cut their target price for the company from C$23.00 to C$21.50 in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada dropped their price target on shares of TELUS from C$26.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. One investment 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 MarketBeat, TELUS presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.54.
Check Out Our Latest Stock Analysis on TELUS
TELUS Stock Performance
TELUS (TSE:T – Get Free Report) (NYSE:TU) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.24 by C$0.01. TELUS had a net margin of 3.91% and a return on equity of 4.67%. The business had revenue of C$4.97 billion for the quarter, compared to analyst estimates of C$5.04 billion. As a group, research analysts expect that TELUS will post 1.2267985 earnings per share for the current fiscal year.
TELUS Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a dividend of $0.389 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend was Tuesday, September 10th. TELUS’s dividend payout ratio is presently 294.34%.
Insider Buying and Selling
In other news, Director Marc Parent bought 10,530 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of C$22.52 per share, with a total value of C$237,135.60. 0.02% of the stock is owned by 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.
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