Royal Bank of Canada Has Lowered Expectations for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its target price trimmed by Royal Bank of Canada from C$25.00 to C$24.00 in a research report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also commented on T. Cormark lowered their price objective on shares of TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. Scotiabank lowered their target price on TELUS from C$24.00 to C$23.25 in a research note on Tuesday, November 26th. National Bankshares cut TELUS from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$24.00 to C$22.00 in a research note on Friday, December 13th. TD Securities lowered their price objective on TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Barclays reduced their target price on shares of TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$24.23.

TELUS Price Performance

T opened at C$19.92 on Wednesday. The stock has a market capitalization of C$29.48 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The stock’s 50 day moving average price is C$21.68 and its 200-day moving average price is C$21.89. TELUS has a 52-week low of C$19.57 and a 52-week high of C$24.92. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.402 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.61 annualized dividend and a dividend yield of 8.07%. This is an increase from TELUS’s previous quarterly dividend of $0.39. TELUS’s dividend payout ratio (DPR) is 294.34%.

Insider Buying and Selling

In other news, Director Victor George Dodig purchased 100,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of C$21.38 per share, with a total value of C$2,138,000.00. Also, Director Marc Parent acquired 19,100 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased 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 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.