TELUS (TSE:T) Price Target Cut to C$22.00 by Analysts at Scotiabank

TELUS (TSE:T) (NYSE:TU) had its price objective cut by equities research analysts at Scotiabank from C$22.50 to C$22.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 19.31% from the stock’s previous close.

Several other equities research analysts also recently issued reports on T. National Bankshares cut their price target on TELUS from C$21.50 to C$21.00 and set an “outperform” rating for the company in a report on Tuesday, December 30th. Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Morgan Stanley decreased their price target on shares of TELUS from C$25.00 to C$20.00 in a research note on Wednesday, December 10th. BMO Capital Markets cut shares of TELUS from an “outperform” rating to a “hold” rating and lowered their price target for the company from C$23.00 to C$19.00 in a report on Thursday, December 11th. Finally, CIBC boosted their price objective on TELUS from C$24.00 to C$25.00 in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TELUS has an average rating of “Moderate Buy” and a consensus target price of C$21.79.

TELUS Stock Down 1.8%

Shares of T traded down C$0.34 during mid-day trading on Tuesday, hitting C$18.44. 5,339,177 shares of the company’s stock were exchanged, compared to its average volume of 5,511,488. TELUS has a 52 week low of C$17.26 and a 52 week high of C$23.29. The company has a 50-day simple moving average of C$18.42 and a 200 day simple moving average of C$20.71. The company has a market cap of C$28.60 billion, a PE ratio of 23.64, a P/E/G ratio of 1.65 and a beta of 0.85. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52.

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