CIBC Lowers TELUS (TSE:T) Price Target to C$24.00

TELUS (TSE:T) (NYSE:TU) had its price target trimmed by CIBC from C$25.00 to C$24.00 in a research note released on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on T. Cormark dropped their price target on TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. Barclays dropped their target price on shares of TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. National Bank Financial downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. National Bankshares lowered their price objective on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Friday, January 3rd. Finally, Scotiabank reduced their target price on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating for the company in a report on Wednesday. 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’s stock. According to data from MarketBeat, TELUS currently has a consensus rating of “Hold” and a consensus target price of C$24.00.

TELUS Stock Performance

T opened at C$19.69 on Wednesday. The business has a fifty day simple moving average of C$20.91 and a 200-day simple moving average of C$21.63. The firm has a market cap of C$29.14 billion, a PE ratio of 37.15, a P/E/G ratio of 1.65 and a beta of 0.72. 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 has a fifty-two week low of C$19.10 and a fifty-two week high of C$24.92.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.402 per share. This is a boost from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, December 11th. This represents a $1.61 dividend on an annualized basis and a yield of 8.17%. TELUS’s dividend payout ratio (DPR) is presently 294.34%.

Insiders Place Their Bets

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

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.