CIBC Has Lowered Expectations for TELUS (TSE:T) Stock Price

TELUS (TSE:T) (NYSE:TU) had its price target decreased by CIBC from C$25.00 to C$24.00 in a research note published on Wednesday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Scotiabank lowered their target price on shares of TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a report on Wednesday. National Bankshares dropped 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. Royal Bank of Canada reduced their price target on TELUS from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays dropped their price objective on TELUS from C$24.00 to C$23.00 in a research note on Wednesday, October 9th. Finally, TD Securities reduced their target price on TELUS from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, TELUS currently has an average rating of “Hold” and an average target price of C$24.00.

TELUS Stock Performance

Shares of TSE T opened at C$19.99 on Wednesday. The stock has a market capitalization of C$29.59 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. TELUS has a 52 week low of C$19.10 and a 52 week high of C$24.92. The stock has a 50 day moving average price of C$20.99 and a 200 day moving average price of C$21.65. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.402 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 8.04%. This is an increase from TELUS’s previous quarterly dividend of $0.39. TELUS’s dividend payout ratio (DPR) is currently 294.34%.

Insider Activity at TELUS

In related news, Director Victor George Dodig purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of C$22.04 per share, with a total value of C$420,964.00. 0.02% of the stock is currently owned by corporate insiders.

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.