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

TELUS (TSE:T - Free Report) NYSE: TU had its target price cut by Scotiabank from C$23.25 to C$22.50 in a report released on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently issued reports on T. National Bank Financial downgraded shares of TELUS from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 12th. National Bankshares cut their target price on shares of TELUS from C$22.00 to C$21.00 and set a "sector perform" rating on the stock in a report on Friday, January 3rd. Barclays dropped their price target on TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. TD Securities reduced their price objective on TELUS from C$26.00 to C$25.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. dropped their target price on TELUS from C$23.00 to C$22.00 and set a "neutral" rating on the stock in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$24.00.

TELUS Stock Performance

Shares of T traded down C$0.09 during mid-day trading on Wednesday, hitting C$19.99. The stock had a trading volume of 5,683,929 shares, compared to its average volume of 3,931,514. The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 171.58. The company has a market cap of C$29.59 billion, a PE ratio of 37.72, a PEG ratio of 1.65 and a beta of 0.72. TELUS has a fifty-two week low of C$19.10 and a fifty-two week high of C$24.92. The company's fifty day simple moving average is C$21.04 and its two-hundred day simple moving average is C$21.66.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.402 per share. This is a boost from TELUS's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.61 annualized dividend and a yield of 8.04%. TELUS's dividend payout ratio (DPR) is presently 294.34%.

Insider Transactions at TELUS

In other TELUS news, Director Victor George Dodig acquired 100,000 shares of TELUS stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. Also, Director Marc Parent acquired 19,100 shares of the stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Company insiders own 0.02% of the company's stock.

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.