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

TELUS (TSE:T) (NYSE:TU) had its target price lowered by Scotiabank from C$26.00 to C$22.50 in a report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 20.51% from the company’s current price.

Several other research firms have also issued reports on T. JPMorgan Chase & Co. lowered shares of TELUS from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from C$22.00 to C$19.00 in a research report on Tuesday, November 18th. TD Securities lowered their price target on TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a report on Monday, December 15th. BMO Capital Markets cut TELUS from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$23.00 to C$19.00 in a research note on Thursday, December 11th. Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, Morgan Stanley dropped their target price on TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$21.83.

TELUS Trading Up 0.5%

Shares of TELUS stock traded up C$0.09 during trading hours on Monday, reaching C$18.67. The stock had a trading volume of 1,804,716 shares, compared to its average volume of 5,437,315. The firm has a market capitalization of C$28.96 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.65 and a beta of 0.85. TELUS has a 1 year low of C$17.26 and a 1 year high of C$23.29. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. The firm has a 50 day simple moving average of C$18.64 and a two-hundred day simple moving average of C$20.84.

TELUS (TSE:T) (NYSE:TU) last posted its earnings results on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. TELUS had a net margin of 4.62% and a return on equity of 5.80%. The firm had revenue of C$5.07 billion during the quarter. As a group, equities research analysts anticipate that TELUS will post 1.2267985 earnings per share for the current year.

About TELUS

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.