TELUS (TSE:T) PT Lowered to C$24.00 at Scotiabank

TELUS (TSE:T) (NYSE:TU) had its price target decreased by Scotiabank from C$24.25 to C$24.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 5.73% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. CIBC dropped 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 report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of TELUS from C$24.00 to C$23.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. TD Securities reduced their price target on shares of TELUS from C$27.00 to C$26.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. National Bankshares reduced 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 report on Wednesday, June 26th. Finally, Canaccord Genuity Group reduced 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 report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, TELUS has a consensus rating of “Moderate Buy” and an average target price of C$24.58.

TELUS Price Performance

TELUS stock traded down C$0.34 during mid-day trading on Tuesday, reaching C$22.70. 2,489,218 shares of the company’s stock traded hands, compared to its average volume of 3,196,047. The company has a market cap of C$33.60 billion, a price-to-earnings ratio of 43.65, a PEG ratio of 2.07 and a beta of 0.67. The stock has a 50 day moving average of C$21.70 and a two-hundred day moving average of C$22.44. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 159.88. TELUS has a 12-month low of C$20.04 and a 12-month high of C$25.94.

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

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.