TELUS (TSE:T) Given New C$24.00 Price Target at CIBC

TELUS (TSE:T) (NYSE:TU) had its price objective decreased by CIBC from C$25.00 to C$24.00 in a report released on Tuesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on T. Canaccord Genuity Group dropped their price target on TELUS from C$25.00 to C$23.00 and set a buy rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. dropped their target price on TELUS from C$24.00 to C$23.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Cormark reduced their price target on TELUS from C$27.00 to C$26.00 in a report on Wednesday, May 15th. Royal Bank of Canada lowered their price objective on TELUS from C$26.00 to C$25.00 and set an outperform rating for the company in a research note on Tuesday. Finally, Scotiabank cut their target price on shares of TELUS from C$26.00 to C$24.25 and set a sector perform rating on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, TELUS currently has an average rating of Moderate Buy and an average target price of C$24.50.

TELUS Stock Down 0.3 %

Shares of TSE T opened at C$22.51 on Tuesday. The company has a market cap of C$33.31 billion, a price-to-earnings ratio of 43.29, a PEG 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. TELUS has a 12 month low of C$20.04 and a 12 month high of C$25.94. The stock has a 50-day moving average price of C$21.72 and a two-hundred day moving average price of C$22.42.

TELUS (TSE:T) (NYSE:TU) last released its quarterly earnings data on Friday, August 2nd. The company reported C$0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.01. The business had revenue of C$4.97 billion during the quarter, compared to analysts’ expectations of C$5.04 billion. TELUS had a net margin of 4.20% and a return on equity of 4.96%. As a group, analysts forecast that TELUS will post 1.0009001 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend is Tuesday, September 10th. 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.