TELUS (TSE:T) Given New C$25.00 Price Target at Cormark

TELUS (TSE:T) (NYSE:TU) had its target price lowered by Cormark from C$26.00 to C$25.00 in a report released on Monday,BayStreet.CA reports. Cormark also issued estimates for TELUS’s FY2024 earnings at $0.99 EPS and FY2025 earnings at $0.91 EPS.

Several other brokerages have also commented on T. TD Securities decreased 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 Wednesday, August 7th. BMO Capital Markets upped their target price on TELUS from C$24.00 to C$25.00 in a report on Thursday, September 5th. Barclays reduced their price target on shares of TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. CIBC cut their price objective on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on TELUS from C$26.00 to C$25.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TELUS presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.46.

TELUS Stock Down 2.2 %

Shares of TSE T opened at C$21.34 on Monday. The stock has a market capitalization of C$31.58 billion, a price-to-earnings ratio of 40.89, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. TELUS has a 52 week low of C$20.04 and a 52 week high of C$25.94. The firm has a 50-day moving average price of C$22.32 and a 200 day moving average price of C$22.06. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.402 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.61 annualized dividend and a dividend yield of 7.54%. This is a positive change from TELUS’s previous quarterly dividend of $0.39. TELUS’s dividend payout ratio is presently 294.34%.

TELUS Company Profile

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.