Canaccord Genuity Group downgraded shares of TELUS (TSE:T – Free Report) (NYSE:TU) from a buy rating to a hold rating in a research note released on Tuesday, MarketBeat reports. They currently have C$21.50 target price on the stock, down from their prior target price of C$23.00.
A number of other research analysts have also recently commented on T. National Bankshares reduced their target price on shares of TELUS from C$25.00 to C$23.00 and set an outperform rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their target price on TELUS from C$24.00 to C$23.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. TD Securities cut their price target on TELUS from C$27.00 to C$26.00 and set a buy rating on the stock in a research note on Monday, July 22nd. CIBC lowered their price objective on TELUS from C$25.00 to C$24.00 and set an outperform rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price objective on TELUS from C$26.00 to C$25.00 and set an outperform rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, TELUS presently has an average rating of Moderate Buy and an average price target of C$24.50.
View Our Latest Stock Report on T
TELUS Stock Performance
TELUS (TSE:T – Get Free Report) (NYSE:TU) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.25 EPS for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.01. TELUS had a return on equity of 4.96% and a net margin of 4.20%. The company had revenue of C$4.97 billion for the quarter, compared to analysts’ expectations of C$5.04 billion. As a group, equities research analysts anticipate that TELUS will post 1.0009001 EPS for the current year.
TELUS Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.389 per share. This represents a $1.56 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend is Tuesday, September 10th. TELUS’s dividend payout ratio (DPR) is presently 288.46%.
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.
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