Scotiabank Cuts TELUS (TSE:T) Price Target to C$22.00

TELUS (TSE:T) (NYSE:TU) had its target price trimmed by Scotiabank from C$22.50 to C$22.00 in a report published on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. Desjardins set a C$23.00 target price on TELUS and gave the stock a “buy” rating in a research note on Monday, January 12th. BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “hold” rating and decreased their price objective for the company from C$23.00 to C$19.00 in a report on Thursday, December 11th. JPMorgan Chase & Co. lowered shares of TELUS from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from C$22.00 to C$19.00 in a research report on Tuesday, November 18th. CIBC lifted their target price on shares of TELUS from C$24.00 to C$25.00 in a report on Friday, October 17th. Finally, Morgan Stanley lowered their price target on shares of TELUS from C$25.00 to C$20.00 in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.79.

TELUS Stock Performance

Shares of T opened at C$18.81 on Tuesday. The company has a market cap of C$29.17 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. The firm has a 50-day moving average of C$18.29 and a 200-day moving average of C$20.66. TELUS has a one year low of C$17.26 and a one year high of C$23.29. The company has a debt-to-equity ratio of 183.41, a current ratio of 0.69 and a quick ratio of 0.52.

TELUS (TSE:T) (NYSE:TU) last issued its earnings results on Friday, November 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. The business had revenue of C$5.07 billion during the quarter. TELUS had a net margin of 4.62% and a return on equity of 5.80%. As a group, equities analysts forecast that TELUS will post 1.2267985 earnings per share for the current year.

TELUS Company Profile

Telus is one of the Big Three wireless service providers in Canada, with its 9 million mobile phone subscribers nationwide constituting about 30% of the total market. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. In recent years Telus has moved to bring fiber to the home over most of its wireline footprint as it upgrades its legacy copper network, leaving it able to compete on more equal footing with cable providers.