Canadian Imperial Bank of Commerce Has Lowered Expectations for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its target price decreased by equities researchers at Canadian Imperial Bank of Commerce from C$15.00 to C$14.00 in a note issued to investors on Thursday, BayStreet reports. The firm presently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 22.81% from the company’s previous close.

Several other brokerages have also recently issued reports on T. Morgan Stanley cut TELUS from an “equal weight” rating to an “underweight” rating and cut their target price for the company from C$20.00 to C$13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada cut TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Raymond James Financial set a C$18.50 price objective on shares of TELUS and gave the stock a “market perform” rating in a report on Thursday, July 16th. Canaccord Genuity Group lowered their target price on shares of TELUS from C$16.75 to C$15.50 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, National Bank Financial dropped their price target on shares of TELUS from C$15.00 to C$13.00 in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$16.89.

TELUS Stock Up 0.5%

Shares of T traded up C$0.06 on Thursday, reaching C$11.40. The company’s stock had a trading volume of 3,492,635 shares, compared to its average volume of 8,014,285. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 236.85. TELUS has a twelve month low of C$11.06 and a twelve month high of C$21.63. The stock has a market capitalization of C$17.95 billion, a PE ratio of -19.32, a PEG ratio of 1.65 and a beta of 0.59. The firm has a fifty day moving average of C$12.92 and a 200-day moving average of C$15.23.

TELUS (TSE:T) (NYSE:TU) last released its quarterly earnings results on Friday, July 31st. The company reported C$0.16 earnings per share (EPS) for the quarter. The business had revenue of C$4.92 billion during the quarter. TELUS had a negative return on equity of 6.56% and a negative net margin of 4.55%. Equities analysts predict that TELUS will post 1.2267985 EPS for the current year.

About TELUS

TELUS Digital, a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU), crafts unique and enduring experiences for customers and employees, and creates future-focused digital transformations that deliver value for our clients. We are the brand behind the brands. Our global team members are both passionate ambassadors of our clients’ products and services, and technology experts resolute in our pursuit to elevate their end customer journeys, solve business challenges, mitigate risks, and drive continuous innovation.