Scotiabank Cuts TELUS (TSE:T) Price Target to C$22.50

TELUS (TSE:T) (NYSE:TU) had its price target reduced by Scotiabank from C$23.25 to C$22.50 in a research note published on Wednesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a report on Thursday, January 2nd. National Bankshares dropped their target price on TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Friday, January 3rd. Barclays reduced their price objective on TELUS from C$24.00 to C$23.00 in a research note on Wednesday, October 9th. TD Securities decreased their target price on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Cormark lowered their price target on TELUS from C$26.00 to C$25.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TELUS presently has an average rating of “Hold” and an average target price of C$24.00.

TELUS Stock Down 1.3 %

Shares of TSE T opened at C$19.69 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58. The stock has a market capitalization of C$29.14 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. TELUS has a 12-month low of C$19.10 and a 12-month high of C$24.92. The stock’s fifty day simple moving average is C$20.91 and its two-hundred day simple moving average is C$21.63.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.402 per share. This represents a $1.61 dividend on an annualized basis and a yield of 8.17%. This is a boost from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, December 11th. TELUS’s dividend payout ratio is 294.34%.

Insider Transactions at TELUS

In related news, Director Victor George Dodig acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. Also, Director Marc Parent bought 19,100 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of C$22.04 per share, for a total transaction of C$420,964.00. Corporate insiders own 0.02% of the company’s stock.

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.