TELUS (TSE:T) Price Target Raised to C$26.00

TELUS (TSE:T) (NYSE:TU) had its price objective raised by Scotiabank from C$25.00 to C$26.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group lifted their target price on TELUS from C$20.25 to C$21.50 in a report on Monday, May 12th. BMO Capital Markets lifted their target price on TELUS from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, National Bankshares set a C$23.00 target price on TELUS and gave the stock a “sector perform” rating in a report on Tuesday, August 12th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$23.32.

TELUS Stock Performance

Shares of TSE T opened at C$21.96 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41. The stock has a market capitalization of C$33.49 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 1.65 and a beta of 0.98. The stock’s fifty day simple moving average is C$22.46 and its 200 day simple moving average is C$21.81. TELUS has a 52-week low of C$19.10 and a 52-week high of C$23.43.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.4163 per share. This is an increase from TELUS’s previous quarterly dividend of $0.40. This represents a $1.67 dividend on an annualized basis and a yield of 7.6%. TELUS’s payout ratio is presently 247.69%.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services.