TELUS (TSE:T) Price Target Lowered to C$24.00 at Royal Bank of Canada

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

Several other brokerages also recently issued reports on T. Scotiabank decreased their target price on TELUS from C$24.00 to C$23.25 in a research note on Tuesday, November 26th. TD Securities decreased their price objective on TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. National Bank Financial lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. National Bankshares lowered TELUS from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$24.00 to C$22.00 in a research report on Friday, December 13th. Finally, BMO Capital Markets increased their target price on TELUS from C$24.00 to C$25.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$24.23.

TELUS Price Performance

Shares of T opened at C$20.05 on Wednesday. The firm has a market cap of C$29.67 billion, a PE ratio of 37.83, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58. TELUS has a 1-year low of C$19.81 and a 1-year high of C$24.92. The firm has a fifty day simple moving average of C$21.77 and a two-hundred day simple moving average of C$21.92.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a $0.402 dividend. This represents a $1.61 annualized dividend and a yield of 8.02%. This is a positive change from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS’s dividend payout ratio is presently 294.34%.

Insiders Place Their Bets

In other TELUS news, Director Victor George Dodig acquired 100,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought 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 on Tuesday, December 10th. The stock was bought at an average cost of C$22.04 per share, with a total value of C$420,964.00. 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.