TELUS (TSE:T) Given New C$22.50 Price Target at Scotiabank

TELUS (TSE:T) (NYSE:TU) had its price target dropped by investment analysts at Scotiabank from C$23.25 to C$22.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 12.73% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a report on Thursday, January 2nd. Cormark reduced their target price on TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. Barclays dropped their price target on TELUS from C$24.00 to C$23.00 in a report on Wednesday, October 9th. National Bank Financial downgraded TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lowered their target price on TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$24.00.

TELUS Stock Down 0.6 %

Shares of TSE:T traded down C$0.12 during mid-day trading on Wednesday, hitting C$19.96. 1,737,818 shares of the company traded hands, compared to its average volume of 3,124,913. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58. The stock has a 50-day moving average price of C$21.04 and a two-hundred day moving average price of C$21.66. TELUS has a 12-month low of C$19.10 and a 12-month high of C$24.92. The stock has a market cap of C$29.54 billion, a P/E ratio of 37.66, a P/E/G ratio of 1.65 and a beta of 0.72.

Insider Transactions at TELUS

In other news, Director Marc Parent purchased 19,100 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was purchased at an average cost of C$22.04 per share, with a total value of C$420,964.00. Also, Director Victor George Dodig purchased 100,000 shares of TELUS stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of C$21.38 per share, with a total value of C$2,138,000.00. Corporate insiders own 0.02% of the company’s stock.

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.