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

TELUS (TSE:T) (NYSE:TU) had its price target decreased by Scotiabank from C$23.25 to C$22.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

T has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price objective 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 reduced their price target on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday, November 11th. Barclays lowered their price objective on shares of TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. National Bank Financial cut shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, TD Securities decreased their target price on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$24.00.

TELUS Stock Down 1.3 %

Shares of T stock opened at C$19.69 on Wednesday. The stock has a market cap of C$29.14 billion, a P/E ratio of 37.15, a PEG ratio of 1.65 and a beta of 0.72. The company’s fifty day simple moving average is C$20.91 and its two-hundred day simple moving average is C$21.63. 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 52 week low of C$19.10 and a 52 week high of C$24.92.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.402 per share. This is a boost from TELUS’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 8.17%. TELUS’s dividend payout ratio is currently 294.34%.

Insider Transactions at TELUS

In other news, Director Victor George Dodig purchased 100,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was 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 company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Company 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.