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

TELUS (TSE:T) (NYSE:TU) had its price target lowered by analysts at Scotiabank from C$23.25 to C$22.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 12.73% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price target on TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a research note on Thursday, January 2nd. Cormark decreased their target price on shares of TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their price target on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Barclays lowered their target price on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. Finally, TD Securities cut their price target on TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$24.00.

TELUS Price Performance

Shares of TSE:T traded down C$0.12 during midday trading on Wednesday, hitting C$19.96. The stock had a trading volume of 1,737,818 shares, compared to its average volume of 3,124,913. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58. The company has a market capitalization of C$29.54 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company’s 50-day moving average price is C$21.04 and its 200-day moving average price is C$21.66. TELUS has a fifty-two week low of C$19.10 and a fifty-two week high of C$24.92.

Insider Activity

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