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

TELUS (TSE:T) (NYSE:TU) had its target price trimmed by Canaccord Genuity Group from C$25.00 to C$23.00 in a research report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. National Bankshares reduced their price target on 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. TD Securities increased their target price on TELUS from C$25.00 to C$27.00 and gave the stock a buy rating in a report on Tuesday, May 21st. Royal Bank of Canada cut their price objective on shares of TELUS from C$29.00 to C$26.00 and set a sector perform rating for the company in a research report on Wednesday, April 10th. BMO Capital Markets reduced their price objective on shares of TELUS from C$26.00 to C$24.00 in a research note on Tuesday, April 2nd. Finally, Scotiabank cut their price target on shares of TELUS from C$26.00 to C$24.25 and set a sector perform rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TELUS currently has an average rating of Moderate Buy and a consensus price target of C$24.94.

TELUS Trading Up 1.0 %

Shares of TELUS stock opened at C$21.19 on Tuesday. The company has a debt-to-equity ratio of 159.88, a quick ratio of 0.52 and a current ratio of 0.67. The firm has a 50-day moving average of C$21.83 and a 200-day moving average of C$22.69. TELUS has a 52-week low of C$20.04 and a 52-week high of C$25.94. The stock has a market cap of C$31.36 billion, a PE ratio of 40.75, a PEG ratio of 2.07 and a beta of 0.67.

TELUS (TSE:T) (NYSE:TU) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$4.93 billion during the quarter, compared to the consensus estimate of C$5.06 billion. As a group, sell-side analysts forecast that TELUS will post 1.0009001 EPS for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th were given a $0.389 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 7.34%. This is an increase from TELUS’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, June 10th. TELUS’s dividend payout ratio 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.