Barclays Cuts TELUS (TSE:T) Price Target to C$23.00

TELUS (TSE:T) (NYSE:TU) had its price objective lowered by Barclays from C$24.00 to C$23.00 in a research note released on Wednesday, BayStreet.CA reports.

A number of other equities research analysts have also commented on the stock. Scotiabank dropped their price objective on shares of TELUS from C$24.25 to C$24.00 in a report on Tuesday, August 6th. National Bankshares lowered their price target on shares of TELUS from C$25.00 to C$23.00 and set an outperform rating on the stock in a research note on Wednesday, June 26th. CIBC lowered their price target on shares of TELUS from C$25.00 to C$24.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets lifted their price target on shares of TELUS from C$24.00 to C$25.00 in a research note on Thursday, September 5th. Finally, TD Securities lowered their price target on shares of TELUS from C$26.00 to C$25.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$24.54.

TELUS Price Performance

Shares of T stock opened at C$22.28 on Wednesday. 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$32.97 billion, a PE ratio of 41.72, a PEG ratio of 2.07 and a beta of 0.72. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66. The firm’s 50 day moving average price is C$22.36 and its two-hundred day moving average price is C$22.02.

TELUS (TSE:T) (NYSE:TU) last announced its quarterly earnings results on Friday, August 2nd. The company reported C$0.25 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.01. The company had revenue of C$4.97 billion for the quarter, compared to analysts’ expectations of C$5.04 billion. TELUS had a net margin of 3.91% and a return on equity of 4.67%. As a group, analysts forecast that TELUS will post 1.0598971 EPS for the current year.

TELUS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.389 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date was Tuesday, September 10th. TELUS’s dividend payout ratio is currently 294.34%.

Insider Buying and Selling at TELUS

In other news, Director Marc Parent bought 10,530 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of C$22.52 per share, for a total transaction of C$237,135.60. Insiders own 0.02% of the company’s stock.

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.