TELUS (TSE:T) Upgraded by Scotiabank to Outperform Rating

Scotiabank upgraded shares of TELUS (TSE:T) (NYSE:TU) from a sector perform rating to an outperform rating in a report released on Monday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their price target on TELUS from C$26.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price 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. CIBC dropped their price target on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$23.00 to C$21.50 in a report on Tuesday, August 6th. Finally, TD Securities dropped their target price on TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, TELUS has a consensus rating of “Moderate Buy” and a consensus price target of C$24.54.

TELUS Price Performance

TSE T opened at C$22.01 on Monday. The company has a 50-day moving average price of C$22.33 and a two-hundred day moving average price of C$22.07. TELUS has a 52 week low of C$20.04 and a 52 week high of C$25.94. The stock has a market cap of C$32.57 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth 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 (TSE:T) (NYSE:TU) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.01. TELUS had a return on equity of 4.67% and a net margin of 3.91%. The business had revenue of C$4.97 billion during the quarter, compared to analyst estimates of C$5.04 billion. Analysts forecast that TELUS will post 1.2267985 EPS for the current year.

Insider Buying and Selling

In related news, Director Marc Parent bought 10,530 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of C$22.52 per share, for a total transaction of C$237,135.60. 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.