TELUS (TSE:T) Given New C$24.00 Price Target at CIBC

TELUS (TSE:T) (NYSE:TU) had its target price decreased by CIBC from C$25.00 to C$24.00 in a report issued on Wednesday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research firms also recently issued reports on T. Scotiabank reduced their price objective on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a report on Wednesday. Cormark cut their price target on TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. Barclays lowered their price objective on TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. National Bankshares lowered their price target on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, TELUS currently has an average rating of “Hold” and a consensus price target of C$24.00.

TELUS Trading Down 0.4 %

Shares of TSE T opened at C$19.99 on Wednesday. TELUS has a 1-year low of C$19.10 and a 1-year high of C$24.92. The company has a 50-day moving average of C$20.99 and a two-hundred day moving average of C$21.65. The company has a market cap of C$29.59 billion, a PE ratio of 37.72, 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a $0.402 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 8.04%. This is a boost from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, December 11th. TELUS’s payout ratio is presently 294.34%.

Insider Transactions at TELUS

In related news, Director Victor George Dodig bought 100,000 shares of TELUS stock in a transaction that occurred on Thursday, November 14th. The stock was 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 bought 19,100 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of C$22.04 per share, with a total value of C$420,964.00. 0.02% of the stock is currently owned by 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.