Canaccord Genuity Group Trims TELUS (TSE:T) Target Price to C$23.00

TELUS (TSE:T) (NYSE:TU) had its price target reduced by Canaccord Genuity Group from C$25.00 to C$23.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on T. TD Securities boosted their target price on shares of TELUS from C$25.00 to C$27.00 and gave the stock a buy rating in a report on Tuesday, May 21st. Cormark dropped their price target on shares of TELUS from C$27.00 to C$26.00 in a research report on Wednesday, May 15th. BMO Capital Markets dropped their price target on shares of TELUS from C$26.00 to C$24.00 in a research report on Tuesday, April 2nd. CIBC dropped their price target on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on shares of TELUS from C$29.00 to C$26.00 and set a sector perform rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, TELUS has an average rating of Moderate Buy and an average price target of C$24.94.

TELUS Trading Up 0.7 %

Shares of TELUS stock opened at C$20.98 on Tuesday. The firm has a market capitalization of C$31.05 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.67. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 159.88. The firm’s 50 day moving average is C$21.85 and its 200 day moving average is C$22.70. TELUS has a 1 year low of C$20.04 and a 1 year high of C$25.94.

TELUS (TSE:T) (NYSE:TU) last announced its quarterly earnings results on Thursday, May 9th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.24 by C$0.02. TELUS had a net margin of 4.20% and a return on equity of 4.96%. The company had revenue of C$4.93 billion for the quarter, compared to analyst estimates of C$5.06 billion. Equities research analysts forecast that TELUS will post 1.0009001 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were paid a $0.389 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.56 annualized dividend and a dividend yield of 7.42%. TELUS’s dividend payout ratio is presently 288.46%.

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.