TELUS (TSE:T) Price Target Cut to C$24.00 by Analysts at Royal Bank of Canada

TELUS (TSE:T) (NYSE:TU) had its price objective trimmed by Royal Bank of Canada from C$25.00 to C$24.00 in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently commented on T. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating and reduced their price target for the stock from C$24.00 to C$22.00 in a report on Friday, March 21st. Scotiabank dropped their price target on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. TD Securities boosted their price objective on TELUS from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Friday, February 14th. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Finally, National Bank Financial cut TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$22.69.

TELUS Trading Up 1.2 %

TSE T traded up C$0.23 during trading hours on Wednesday, hitting C$20.09. 1,486,186 shares of the company’s stock were exchanged, compared to its average volume of 4,572,274. The firm has a market cap of C$30.25 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.65 and a beta of 0.72. The stock has a 50-day simple moving average of C$21.23 and a 200 day simple moving average of C$21.25. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 183.41. TELUS has a 1-year low of C$19.10 and a 1-year high of C$23.43.

Insider Activity at TELUS

In other news, Director Hazel Cynthia Claxton purchased 1,845 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of C$21.70 per share, with a total value of C$40,036.50. 0.02% of the stock is currently owned by company insiders.

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.